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Genesis collapse closes an era for crypto’s pseudo-banks
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fnlondon.comThe late-night bankruptcy filing of Genesis last week marked the end of an era for crypto lenders that tried to bring the centuries-old business model of banking to the digital-currency space.
Many of the biggest names in crypto lending have failed in the past half-year, highlighting the shaky foundations, risky practices and lack of regulation in the sector. Now, millions of depositors who parked savings with such lenders are in limbo as they hope to get back some portion of their money in slow-moving bankruptcy proceedings.
Read more on fnlondon.comAbout this in other media
Bitcoin Price and Ethereum Prediction: What Powell's Speech Could Mean For Crypto Prices? cryptonews.com /1 year ago
Genesis entity going up for sale as DCG makes creditor pact cointelegraph.com /1 year ago
Luxury Rehab Centers Introduce Treatment for Crypto Addiction – Here's Why cryptonews.com /1 year ago
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