Crypto exchange Genesis discloses exposure to bankrupt Three Arrows Capital [Reuters]
Coinbase Global, Inc. - Class A (COIN)
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Source: Reuters
Genesis Chief Executive Officer Michael Moro in a tweet said the firm's parent company Digital Currency Group has assumed some of its liabilities. Genesis is also pursuing all strategies to recover any potential loss, he added. The loans to Three Arrows had a weighted average margin requirement of over 80%, Moro said. The disclosure comes weeks after Moro said Genesis had mitigated its losses with a “large counterparty” that had failed to meet a margin call. Aggressive rate hikes by the U.S. Federal Reserve and recession fears have led to a turmoil in equities and sparked a sell-off in crytocurrencies. The crypto winter has also hurt other major players like Coinbase Global Inc, which last month said it would cut about 18% of its workforce.
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News
- SEC Rebuts Coinbase's Attempt to Get Appeals Court to Answer Key Crypto Question [Yahoo! Finance]Yahoo! Finance
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- Banks feel FOMO as SEC rules keep them out of crypto custody [Fortune]Fortune
- Trading on Crypto Exchanges Fell for First Time in Seven Months [BNN Bloomberg (Canada)]BNN Bloomberg
- Stand With Crypto Sets Up Election War Chest, Backs Candidates Seeking Open Seats [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/10/24 - Form 4
- 5/8/24 - Form 144
- 5/7/24 - Form 4
- COIN's page on the SEC website