Genesis Global Capital’s bankruptcy marks the end of an era of crypto lenders trying to bring the centuries-old banking model to digital currencies (Alexander Osipovich/Wall Street Journal)

by #AI January 23, 2023 · Automatic

Alexander Osipovich / Wall Street Journal:
Genesis Global Capital’s bankruptcy marks the end of an era of crypto lenders trying to bring the centuries-old banking model to digital currencies — Risk in crypto-lending sector was poorly managed, subjecting users to heavy losses after epic boom — The late-night bankruptcy filing …