DCG’s Grayscale refuses to share proof of reserves, citing “security concerns”, as Grayscale Bitcoin Trust reaches new lows and DCG’s Genesis halts withdrawals (Stephanie Murray/The Block)

RT Watson / The Block:
Dutch crypto exchange Bitvavo, which uses DCG for its staking service, says it can’t access ~$297M held at DCG and that DCG is “experiencing liquidity problems”  —  – Bitvavo said it can’t access 280 million euros ($297 million) held at DCG.  — DCG controls troubled crypto lender Genesis Global Capital.

Jamie Crawley / CoinDesk:
Binance says Mazars, the auditing firm that worked on proof-of-reserves reports for Binance, Crypto.com, and others, has paused work for all crypto clients  —  Mazars has deleted Binance’s proof-of-reserves assessment, which found its bitcoin reserves were overcollateralized.

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 …

Tim Copeland / The Block:
Binance releases its proof-of-reserves system, starting with BTC, claiming it has 582,485 BTC and 575,742 BTC user balance, a reserve ratio of 101% for users  —  – Binance has put out its proof-of-reserves system, in light of FTX’s meltdown.  — It shows a reserve ratio of 101% for its users’ bitcoin balances.

Sunil Jagtiani / Bloomberg:
Crypto prices sink, with bitcoin dropping ~4% and ether ~7%, dragged down by the ongoing FTX saga, potential contagion, and the FTX hacker offloading ether  —  Cryptocurrency prices struggled Monday in the ongoing crisis sparked by the downfall of Sam Bankman-Fried’s once powerful FTX empire.

Nelson Wang / CoinDesk:
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  —  The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.