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Which companies just had a verified incident, who lends to them and who owns them. Every claim carries its evidence level and its source. How we decide what is confirmed

Global Financial Service Disruptions

Genesis Global Capital

crypto custodian · US · North America · Genesis Global Capital LLC

Liquidity or solvencyStatus: resolvedTier 1Severity 4 of 5Evidence confidence: highAnalyst-verified

Genesis's lending arm suspended redemptions and new loans on 16 November 2022 after withdrawal requests exceeded liquidity in the wake of FTX. Gemini's Earn programme, which relied on Genesis, could not meet redemptions.

First disruption
Nov 16
First public signal
unknown
Acknowledged
Nov 16
Restored
resolved, time unknown
Duration
not established
DFX first recorded
Nov 5 14:58 UTC

What was restricted

withdrawalsScope: institution wide

Redemptions and new loan originations at the lending unit halted; unit had USD 2.8bn active loans at end Q3 2022; Gemini Earn redemptions stalled.

Cause, kept in separate layers

What the institution said
'Abnormal withdrawal requests' exceeding liquidity after 'extreme market dislocation and loss of industry confidence caused by the FTX implosion'
DFX classification
Liquidity or solvency (cyber: unconfirmed)
Wording used
abnormal withdrawal requests, extreme market dislocation

Dependencies

A dependency is a documented relationship. It is not evidence that the provider was compromised.

  • Downstream: Gemini Earn: Redemptions not met within five-business-day window (documented)

Evidence