Genesis’ crypto lending unit, which had $2.8B in active loans in Q3, suspends redemptions and new loan originations; trading and custody units are unaffected (Nelson Wang/CoinDesk)

Frank Chaparro / The Block:
Sources: Nasdaq is exploring an institutional crypto custody service, pending regulatory approval, and a crypto-focused division called Nasdaq Digital Assets  —  – Nasdaq has been plotting a move into crypto custody, according to several sources.  — The move is in line with its broader mission …

Andrew Throuvalas / Decrypt:
Anchorage Digital plans to custody a “significant portion” of Apollo Global’s crypto portfolio and offer crypto custody services to Apollo’s clients  —  The private equity giant that manages half a trillion dollars will use Anchorage for institutional crypto custody.

Bloomberg:
Sources: Genesis Global has $2.8B in outstanding loans, including ~30% of its lending made to related parties like its parent company DCG  —  The troubled brokerage Genesis Global has $2.8 billion in outstanding loans on its balance sheet, with about 30% of its lending made to related parties including …

Krisztian Sandor / CoinDesk:
A look at what went wrong at decentralized lending protocol Maple Finance, as $54M in loans, or 66% of its lending pools, turn bad and what could happen next  —  Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade.

Bloomberg:
Sources: Genesis is struggling to raise funding for its lending unit and warns potential investors that it may need to file for bankruptcy if its efforts fail  —  Digital-asset brokerage Genesis is struggling to raise fresh cash for its lending unit, and it’s warning potential investors …

Tim Copeland / The Block:
Orthogonal Trading defaults on eight loans to lending protocol Maple Finance totaling $36M, or ~30% of active loans on the protocol, likely due to FTX exposure  —  – Orthogonal Trading has defaulted on eight loans totalling $36 million on lending protocol Maple Finance.