Main navigation

Genesis CEO Requests Extra Time to Resolve Lending Woes

Wed, 01/04/2023 - 19:28
article image
Alex Dovbnya
Genesis, a leading digital asset management company, has issued a letter from its interim CEO Derar Islim regarding the issues faced by its lending arm
Genesis CEO Requests Extra Time to Resolve Lending Woes
Cover image via
Read U.TODAY on
Google News

Genesis, a subsidiary of the Digital Currency Group, has begun 2023 with an appeal to its customers for patience. In a letter issued by Interim CEO Derar Islim on Tuesday, he reassured customers that every effort is being made to find a satisfactory solution for problems within the firm's lending business.

The letter has stressed that Genesis' trading businesses remain operational and committed to continue providing service to clients.

The CEO also mentioned various advisors appointed by several client groups who are working collaboratively with DCG  to evaluate solutions that could preserve client assets.

Nassim Taleb Calls Bitcoin Detector of Imbeciles

At the same time, Islim clarified that resolving this issue is a complex process that may require more time than initially anticipated.

Genesis is forging ahead with new initiatives aimed at reducing costs and driving efficiency across all business lines, according to Islim. 

As reported by U.Today, Gemini co-founder Cameron Winklevoss recently accused DCG CEO Barry Silvert of using "bad faith stalling tactics" when i comes to the frozen funds linked to Gemini Earn.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at