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” (RT Watson/The Block)

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 …

Eliza Gkritsi / CoinDesk:
Paris-based Kiln, an Ethereum “staking-as-a-service” startup, raised a €17M Series A from Consensys and more; Kiln has $500M+ of staked assets under management  —  The Paris-based startup is betting on the growth of staking services after Ethereum’s Merge.

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.

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 …

Financial Times:
Sources: Winklevoss twins’ Gemini crypto exchange is trying to recover $900M owed to it by Genesis Global and Genesis’ parent company Digital Currency Group  —  New York-based Gemini is trying to recover funds after FTX failure plunged market into turmoil  —  Digital asset trading group Genesis …

Christiana Loureiro / The Block:
Report: several US states are investigating Genesis Global as part of an inquiry into interconnectedness of crypto firms, securities laws violations, and more  —  – States including Alabama are looking into crypto firms and whether they violated securities laws.