Recommended

#BitcoinOnBTCC ：Celebrate 2024's Crypto Triumphs with Us, Every Day.
Crypto Deposit Make instant crypto transfers to your futures account
USDT-M Perpetual Futures Trade futures contracts settled in USDT
VIP Fee Discounts Enjoy different fee discounts based on your VIP level
Coin-M Perpetual Futures Trade futures contracts settled in cryptocurrency
Fiat Deposit Buy your favourite coins in seconds
Affiliates Invite friends & get rewarded
Convert Covert your crypto instantly
Support Centre Find our FAQs here
Announcements Find all our official announcements
BTCC Academy Learn about blockchain and crypto
News The latest trends in the crypto market

Promotions

Referral
Campaigns
Assets
Crypto Deposit
Fiat Deposit
Convert
Transfer
Withdraw
My vouchers
Fund history
Dashboard
Account Security
Identity verification
API Management
Transaction Report
Log out
Register
Report post
genesis 3ac finance pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

Why did Genesis default on a 3AC loan?

When Three Arrows failed to provide the required collateral, Genesis sent a notice of default, stating that the entire loan balance was due. Last month, sources told CoinDesk that Genesis faced losses in the "hundreds of millions" because of its exposure to Three Arrows Capital, which is also known as 3AC.

What happened to Genesis trading & three arrows capital?

July 6 (Reuters) - Digital asset exchange Genesis Trading said on Wednesday it had been exposed to Three Arrows Capital (3AC), but had mitigated its losses after the bankrupt crypto hedge fund failed to meet a margin call.

Did Genesis Asia Pacific make claims for breached three arrows capital loans?

A list of creditor claims on the document reveals that Genesis Asia Pacific Pte. Ltd. made demands for breached Three Arrows Capital loans totaling $2.36 billion.

Did Genesis liquidate GBTC & ETH?

The loans were partly collateralized with 17.4 million shares of the Grayscale Bitcoin Trust (GBTC), 446,928 shares in Grayscale Ethereum Trust (ETHE), 2.7 million AVAX tokens and 13.9 million NEAR tokens – all of which have been liquidated by Genesis.

Related articles

The World's Leading Crypto Trading Platform

Get my welcome gifts

Exchange for a better future

Products
Services
Guides
About Us
Terms & Agreement
Customer Service
Social Media

Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

The world’s longest-running cryptocurrency exchange since 2011 © 2011 - 2024 BTCC.com. All rights reserved