The unfortunate events following the collapse of FTX have also reached one of the largest crypto brokerage firms, Genesis Global Trading. Numerous articles have been published about their financial troubles – especially regarding  their lending arm, Genesis Capital – where the company is referred to as just “Genesis”. This has led to some confusion concerning their relationship with our Group and daughter company “Genesis Mining Ltd”.

We would like to emphasize that except for having a similar name, we have no relationship with Genesis Global Trading aka. “Genesis”, nor any connections even to its parent company, Digital Currency Group.

Genesis Group, including Genesis Mining has NOT engaged in a joint venture, partnership or any other form of business relationship with Genesis Global Trading.

Genesis Group has no ties to Genesis Global Trading, neither to their trading entity, nor to their lending division. We are a completely different entity, and our sole focus is building large-scale mining data centers and mining Bitcoin.

We are devastated to witness all that has unfolded following the collapse of FTX, and we hope no more companies are affected by it. This is a bleak moment for our industry. However, we might all find some consolation in that the fundamental promise of Bitcoin hasn’t changed a bit.