$418.7 million in Bitcoin withdrawn from Gemini after BarrySilbert-affiliated GenesisTrading halted withdrawals. DCGco DylanLeClair_
Digital Currency Group commented on the situation with Genesis. Its official Twitter handle stated that the decision to halt withdrawals was made due to the"the extreme market dislocation and loss of industry confidence caused by theThey also tweeted that any aftermath is limited only to Genesis lending itself and will not impact the trading or custody services offered by this company.
The impact lies with the lending business at Genesis and does not affect Genesis’s trading or custody businesses. Importantly, this temporary action has no impact on the business operations of DCG and our other wholly owned subsidiaries.
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