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Genesis Trading says derivatives arm has $175 million locked up in FTX account

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Genesis Trading revealed late Thursday that its derivatives business has exposure to FTX amid the crypto exchange's ongoing collapse.

"As part of our goal in providing transparency around this week’s market events, the Genesis derivatives business currently has ~$175M in locked funds in our FTX trading account. This does not impact our market-making activities," Genesis wrote, adding:

The firm, a subsidiary of Digital Currency Group, said,"to reemphasize, Genesis has no ongoing lending relationship with FTX or Alameda."

 

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What's $175m among friends 🤷‍♂️

BarrySilbert you've been quiet for a while , are you preparing yourself to be the next SBF?

What they really mean: lost in FTX

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