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Genesis Reports Q2 Crypto Loans Spiked 118% to $1.4 Billion Amid Rising Yield Farming Interest

Genesis Capital said Tuesday that its total number of loans outstanding more than doubled to $1.4 billion for the second quarter to June, up from $649 million three months earlier. The crypto lender, which targets institutional investors and wealthy individuals, added over $2.2 billion in new originations, an increase of 324% year-on-year. Since the launch of the business in March 2018, Genesis has originated nearly $8.4 billion in loans, the bulk of which are denominated in bitcoin (BTC) and cash. For the review quarter, BTC loans increased, accounting for 51% of the loan book total and fiat 32%. Cash-based loans…

Continue Reading Genesis Reports Q2 Crypto Loans Spiked 118% to $1.4 Billion Amid Rising Yield Farming Interest

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