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Genesis Capital’s Lending Reclaims $1.4 Billion In Q2
Summary: According to the second-quarter review of Genesis Global Trading’s lending business, the crypto lender’s loan outstanding rebounds to $1.4 billion in Q2, achieving an increase of 118% from the end of the first quarter. Genesis has originated more than $8.4 billion in crypto loans since the launch of the business. $2.2 billion in new issuance ...
According to the second-quarter review of Genesis Global Trading’s lending business, the crypto lender’s loan outstanding rebounds to $1.4 billion in Q2, achieving an increase of 118% from the end of the first quarter.
Genesis has originated more than $8.4 billion in crypto loans since the launch of the business. $2.2 billion in new issuance have been added, an increase of 324% over the same period last year.
Genesis CEO clarified that the 100% growth rate is a function of the fact that Genesis cut their data set at about March 31. “To think that our loan outstanding would grow by over 100% in just three months going forward is probably unrealistic”, he added.
In the report, Genesis stated that the growth is backed by traders seeking new yield opportunities.
By Lily Yang
Tags: Cryptocurrency Lending,Genesis,lending
Link: Genesis Capital’s Lending Reclaims $1.4 Billion In Q2 [Copy]
