Key Data

• Trading Name: Genesis
• Legal Entity: Genesis Global Trading, Inc.
  Gemini Trust Company LLC
• Activities: Crypto Lender 
• Location: New York, USA
• Regulations: regulated by the SEC and FINRA
• Key People: Barry Silbert (Linkedin)

Genesis Trading is regulated by the SEC and FINRA, which means that both the exchange itself and its users are all protected

Genesis is a full-service digital currency market maker.

Genesis Global Trading Inc. is an OTC trading subsidiary of Digital Currency Group (DCG) based in New York, USA, specializing in providing trading solutions for high-net-worth investors, trading firms, miners and institutions.

It was launched in 2013 by founder and former owner Barry Silbert (Linkedin) as the bitcoin trading arm of SecondMarket, which also operated CoinDesk and Grayscale Investments.

Offering

Genesis is a cryptocurrency exchange that offers over 100 assets for buying, selling and trading. Users can also access various products and services, including a cryptocurrency rewards credit card, the ability to earn interest on their holdings, an integrated hot wallet, and the option to pay their favorite traders with cryptocurrencies.

Lending

Genesis Trading describes itself as ‘the world’s largest digital asset lender’ that provides the opportunity for users to borrow or lend crypto.

Users can borrow crypto for hedging, speculation and for working capital. Genesis loans are available in either Bitcoin or US Dollar Coin (USDC), which is a stablecoin that is linked to the US dollar. Stablecoins are different from cryptocurrencies like Ethereum as they are based on fiat currencies and so their price is much less volatile in comparison.

Additionally, users can lend crypto that they already own to Genesis Trading for yield farming, where interest is paid out to lenders every month. The revenue you earn from lending is dependent on the interest rates relating to prevailing market conditions and the supply-demand mechanics of Genesis’ portfolio. There is not yet a lending API and RFQ system available for users.

The minimum lending and borrowing amounts are BTC 100, ETH 1,000 or USD/USDC 2 million.

Pricing:

Fees can be as low as $2.99 for trades of more than $50 but less than $200, or 1.49% for trades of $200 or more.

Conclusion

We are placing Genesis on our “Black Compliance” list due to the threat of insolvency.