Genesis loan originations down 79% during crypto winter

Quick Take

  • Loan originations and spot trading volumes decreased at crypto firm Genesis in the third quarter.
  • The crypto market is “lacking directional momentum” heading into the fourth quarter, Genesis said.

Crypto firm Genesis saw a steep decline in its loan originations and trading volumes in the third quarter of the year, following several tumultuous months for the crypto industry marked by bankruptcies and crashes at a number major companies, the firm said in a quarterly report.

“Heading into the fourth quarter, the cryptocurrency market i