Crypto Broker Genesis Discloses Locked Funds On FTX
U.S. cryptocurrency broker Genesis Trading disclosed its derivatives business has approximately $175 million in locked funds on FTX, the company said Thursday in a Twitter post.
Ankita K.
1:59 11th Nov, 2022
Markets
Gensesis said its operating capital and net positions in FTX “are not material to our business” and that it has no ongoing relationship with FTX or Alameda Research, the crypto trading firm belonging to FTX CEO Sam Bankman-Fried.
As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities.
— Genesis (@GenesisTrading) November 10, 2022
The locked assets on FTX do not impact the company’s market-making activities, Genesis said.
