Bad News From The Famous Bitcoin Exchange After FTX: It’s Closing! –

Famous Bitcoin and altcoin exchange Gemini came to the fore with negative developments after the FTX collapse. In addition to closing staking transactions, the stock market saw a large amount of fund outflow. Here are the details…

Bitcoin exchange Gemini hits by FTX crash

Gemini, which is mostly applied by institutional investors, has disabled its staking service. As a result of this development, many customers leave the stock market. Gemini is part of the Digital Currency Group ecosystem. Just like Grayscale behind Bitcoin trust funds like GBTC, which institutional investors apply. As we have reported, the crypto loan platform Genesis Trading, which is under the Digital Currency Group, has also stopped its withdrawals.

Digital Currency Group was previously negatively impacted by the bankruptcy of Three Arrows Capital. Genesis, which made a loan to Three Arrows Capital, was unable to recover its funds. On the other hand, Gemini has $175 million left in FTX. This indicates a minus $175 million in the financial statement. As a result, the financial outlook for Gemini is deteriorating.

What had happened?

FTX was one of the most popular crypto asset exchanges, but it exploded last week. He lost billions of dollars in cash from investors. The stock market and its associated institutions collapsed as FTX used money from the stock market to place bets through Alameda Research, the trading company also founded by the stock market’s CEO, Sam Bankman-Fried. After a leaked document revealed that Alameda’s assets are primarily in FTX-issued token FTT and other highly illiquid assets, rival exchange Binance has announced that it will sell its entire FTT stash.

Today is the Big Day for These 17 Altcoins: Here's the To-Do List!

The stock market crash sent shock waves throughout the crypto market, causing the prices of major coins and tokens to plummet. Bitcoin, the largest cryptocurrency by market cap, hit its lowest level in two years after the crash. Now, the operations of platforms such as Gemini and Genesis have been affected.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Risk Disclosure: The articles and articles on do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on are carried out through third-party advertising channels. In addition, also includes sponsored articles and press releases on its site. For this reason, advertising links directed from are on the site completely independent of’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on and the pages directed by the links in the sponsored articles do not bind in any way.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-3