Crypto lender Genesis lays off 30% of staff

A request for comment from Reuters was not immediately answered by the corporation.

Genesis Global Capital, the lending division of the cryptocurrency company, halted client withdrawals on November 16 due to "extraordinary market dislocation" brought on by the demise of significant crypto exchange FTX.

Investors have left riskier assets due to rising interest rates and concerns about an economic slowdown, and recent bankruptcy filings in the industry have increased the unpredictability.