Discuss in-depth: Genesis files for bankruptcy reorganization, Will DCG crash? What is the impact on industry?
This article is a summary of OKX Space, with excerpts from the editor. DCG has invested in the following major businesses: 1. Grayscale, the world’s largest bitcoin fund and the institution holding the most bitcoins. 2, Genesis, it is the world’s largest crypto lending service, its main business is also lending, but its lending is not our traditional sense of bank borrowing or credit card borrowing, its mainly through the complex collateral to provide users with token lending services. 3. Foundry, the world’s largest bitcoin mining pool. 4. CoinDesk, the world’s largest cryptocurrency media. This shows that DCG is indeed one of the largest cryptocurrency groups in the world. Back to why Genesis is in such big trouble, the logic is also very simple, the root cause is because it lent too much money to Three Arrows Capital and it has been having some unclear connections with Three Arrows Capital . Genesis lent a whopping $2.36 billion to Three Arrows Capital, with losses reaching $1.2 bil...