🚨@GenesisTrading is halting customer withdrawals
Grayscale holds 11 billion BTC as part of its trust 😬
Feels unlikely that they would report on this if not serious.
When was the last time a CeFi exchange or lender, paused customer withdrawals and didn't end up going insolvent?
Important added context:
Right now this is just impacting Genesis lending and not the trading desk.
Update: @Gemini earn program also impacted, since Genesis is a lending partnerthis twitter thread.