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George Ma
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Crypto
May 2 13:14

Genesis issued a record $2 billion in cryptocurrency loans

The volume of outstanding loans reached US$1 billion.
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Genesis Global Capital, a credit division of Digital Currency Group, issued $2 billion in cryptocurrency loans in the first quarter of 2020, which is twice as much as in the last quarter of last year.

The volume of outstanding loans in the company's portfolio shortly before the global collapse of the markets on March 12-13 reached US$1 billion. At the end of the month the figure fell to US$649 million.
Thus, despite BTC price decline by 9.5% by the end of the first quarter, the volume of outstanding loans has increased by 19.1% since the beginning of the year. According to representatives of Genesis, despite the rapid collapse in prices in March, "lending activity has never been suspended".
The table below shows that loans in BTC are the most popular, but the popularity of the fiat US dollar and its equivalents is growing.
The company also reported high demand for loans in fiat currency from trading companies that opened short positions on bitcoin futures with Basis Trading strategy while buying BTC on the spot market.