Our #1 priority is to serve our clients and preserve their assets. “FTX has created unprecedented market turmoil, resulting in abnormal withdrawal requests which have exceeded our current liquidity. Of course, it all comes down to the disaster Sam Bankman-Fried brought forward. Earlier today, Bitcoinist quoted Genesis explaining their decision and how the situation looks from their end.
We are working with the Genesis team to help customers redeem their funds from the Earn program as quickly as possible.” “We are aware that Genesis Global Capital, LLC (Genesis) - the lending partner of the Earn program - has paused withdrawals and will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days.
According to the Winklevoss twins’ PR team, the denial of service has to do with their partner Genesis Global Capital’s decisions.
