Wall Street Firm Launches New Business to Make Betting Against Bitcoin Price Even Easier

Thu, 03/01/2018 - 23:48

Wall Street firm Genesis Global Trading will soon launch a cryptocurrency lending service called Genesis Capital. The new business will allow investors to borrow currency

Wall Street Firm Launches New Business to Make Betting Against Bitcoin Price Even Easier

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Wall Street firm Genesis Global Trading will soon launch a cryptocurrency lending service called Genesis Capital. The new business will allow investors to borrow digital currency, such as Bitcoin and Ether, for a period of time. Most of the time, when investors borrow an asset, they do so to short it. Consequently, Genesis Capital will make it easier for institutions to bet against the price of various digital currencies. At the moment, they can only do so indirectly, and only with Bitcoin, through the CME and Cboe futures markets.

About the author

David Dinkins

David Dinkins is a freelance writer who holds a Master of Arts in history from Louisiana Tech University and has extensive teaching experience both at LSU – Shreveport and University of Phoenix. He got involved with cryptocurrency in early 2014 working as part of the Dash Core Team and have served in the role of writer/editor (mostly editor) during that time. He has edited a huge number of documents for the Core Team, including the Evolution whitepaper, the PrivateSend whitepaper, and many of Evan Duffield’s communications with the Dash Community.