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.