The fallout from the rapid collapse of Sam Bankman-Fried’s FTX is spreading across the crypto world, ensnaring the billionaire Winklevoss twins through a liquidity squeeze at their lending partner, Genesis.
Genesis is suspending redemptions and new loan originations at its lending business after the unit faced withdrawal requests that exceeded current liquidity. Gemini Trust Co., founded by Cameron and Tyler Winklevoss, subsequently announced its yield product for retail investors will also halt redemptions as Genesis was a key partner in the program.
