Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
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Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#2Holy holy hell, I literally _just_ got my captital out this morning. That. was. close.
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#3What is this, four organizations suspending withdrawals after FTX's demise? Five?
I'm not the most plugged-in to the cryptocurrency community; anyone know what proportion of cryptocurrency business this makes up?
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#4Holy holy hell, I literally _just_ got my captital out this morning. That. was. close.
Indiana Jones hat scene
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#5What is this, four organizations suspending withdrawals after FTX's demise? Five? I'm not the most plugged-in to the cryptocurrency community; anyone know what proportion of cryptocurrency business this makes up?
There are something like two or three, at least single digits, genuinely legitimate large exchanges out there, they've been around for ~ ten years at this point, and even those I wouldn't trust enough to keep a balance at for more than a day or two.
All of the pure shitcoin exchanges, centralised "loan" providers, etc etc are probably going under. Most people I know have had this priced in since forever, they come and go all of the time.
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#6Holy holy hell, I literally _just_ got my captital out this morning. That. was. close.
Same. Requested redemption from Gemini Friday morning (11/11), and notified it completed at 5am today (11/16), got the email about Genesis two and half hours later.
(Gemini uses Genesis for their lending program, Earn.)
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#7Holy holy hell, I literally _just_ got my captital out this morning. That. was. close.
Still remember when I pulled out my money out of Bittrex 2 hours before they shut down for half a year. Had a funny feeling and still can't explain, congrats to your intuiton.
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#8What is this, four organizations suspending withdrawals after FTX's demise? Five? I'm not the most plugged-in to the cryptocurrency community; anyone know what proportion of cryptocurrency business this makes up?
This isn’t cryptocurrency, these are sketchy unlicensed banks with a cryptocurrency theme. People holding coins in their own wallets are entirely unaffected. I hope that crypto exchanges are outlawed soon.
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#9A pause pretty much means they're insolvent.
Re: Genesis' Crypto-Lending Unit Is Suspending Withdrawals in Wake of FTX Collapse
#10What is this, four organizations suspending withdrawals after FTX's demise? Five? I'm not the most plugged-in to the cryptocurrency community; anyone know what proportion of cryptocurrency business this makes up?
This isn’t cryptocurrency, these are sketchy unlicensed banks with a cryptocurrency theme. People holding coins in their own wallets are entirely unaffected. I hope that crypto exchanges are outlawed soon.
Well, once all these go down the prices of currencies will also come down, which affects even those who had their coins in cold wallets - unless they plan to hold without making a profit until the heat death of the universe