Millions of Dollars of Giant Finance Company Remained in FTX Exchange: Here’s the Full Number!

Genesis Trading late Thursday, cryptocurrency derivatives business amid the ongoing crash of the stock market FTX He said he was affected by the incident.

Genesis Trading Announces Its Derivatives Arm Has $175 Million Locked On FTX Exchange

“As part of our goal to provide transparency regarding market events this week, the Genesis derivatives arm is currently in locked funds in our FTX trading account,” Genesis said in a statement. 175 million dollars there is. This does not affect our market making activities,” he wrote.

Also, our working capital and net positions in FTX are not important to our business. The circumstances surrounding FTX have not prevented the full functioning of our trading privilege.

“To reiterate, Genesis does not have an ongoing credit relationship with FTX or Alameda,” the firm, which is a subsidiary of Digital Currency Group, said.

Genesis was among a number of companies trying to distance itself from the FTX crisis on Tuesday.

At the time, the firm made the following statement: “In relation to today’s market events, we have managed our credit book and do not have significant net credit exposure. In addition, Genesis has not been affected by any tokens issued by central exchanges.”

The developments exacerbated the situation around FTX, with reports that regulators in the Bahamas are taking action to freeze FTX’s assets and are asking the court to appoint a liquidator.

Regulators in the US are also said to be investigating FTX and other exchanges more extensively.

*Not investment advice.