Genesis Faces ‘Hundreds of Millions’ in Losses as 3AC Exposure Swamps Crypto Lenders: Sources
— Crypto, Moved, Losses, Exposure, Meeting, Sold, Lenders, Faces, Millions, Margin — 1 min read
"We mitigated our losses with a large counterparty who failed to meet a margin call to us," the firm says. "Our business continues to operate normally and we are meeting all of our clients' needs," the company says. The bank says it sold collateral, hedged its downside and moved on with the loss. The firm says it is meeting all its clients' requests and is meeting their needs. The company says it will continue to meet clients' demands. Read more from CNN.com/Heroes' weekly Newsquiz here: http://www.corporationnews.com.com for more information about the bank's recent losses and how to make sure you know what you need to do to get through the market. Source