Genesis Global Trading, a leading crypto brokerage firm, has loaned now-bankrupt Three Arrows Capital (3AC) with $2.36 billion under secured loans.
As reported by The Block, details about 3AC’s loan were gathered from1,159 pages of documentsUploaded by consulting firm Teneo on Monday.
the report It shows that Genesis is trying to recover some of its losses using arbitration. However, the process was paused after Genesis chose Teneo to aid in 3AC’s liquidation in late June.
The document also details 3AC collateral, including 17,443,644 shares of Grayscale’s Bitcoin Trust, 446,928 shares of Grayscale’s Ethereum Trust, 2,739,043.83 AVAX and 13,583,265 NEAR.
Genesis CEO Michael Moro confirmed in June that “When they can’t respond to the margin call, we need to sell the margin immediately,” he said at the time.
In addition, Genesis’ parent company, Digital Currency Group (DCG), also takes on some of Genesis’s debt to help the company.continuecan
On Monday, Genesis’ parent company Digital Currency Group filed a requestSettlement of $1.2 billion per 3AC
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