Digital Currency Group’s market maker and lending subsidiary, Genesis Trading, has announced on Twitter that it has $175 million locked on the now-bankrupt crypto exchange FTX (FTT).
The derivatives firm said that this “does not impact our market-making activities” and that it has no “ongoing lending relationship with FTX or Alameda.”
It added that “operating capital and net positions in FTX are not material to our business” and that it “printed record volumes, maintained leading market share, and supported clients with their ongoing derivatives needs” in the past two days.
However, just two days ago Genesis Trading said that it had lost $7 million “across all counterparties, including Alameda” when it hedged and sold collateral.
Genesis Trading is only one of the multiple companies affected by the blowup of FTX. Sequoia Capital, one of the largest crypto venture capital funds, marked down its investment…
