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Crypto Broker Genesis to Get $140 Million Infusion After FTX Collapse

  • Digital Currency Group controls the crypto broker, lender
  • Derivatives business has $175 million in FTX trading account
genesis global trading HP

Source: genesistrading.com

Crypto brokerage Genesis will get a $140 million equity infusion from its parent company, the Digital Currency Group, after it disclosed its derivatives business has $175 million in funds locked in a FTX trading account. 

The capital infusion will be used to strengthen Genesis’s balance sheet, according to a note sent to a counterparty, confirmed by a spokesperson for DCG. The Block first reported on the note.