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.
Bitcoin, Ethereum, Ripple, EOS, NEM Take Serious Losses On Weekend, Bounce Back on Monday: Price Analysis, June 25