![]() ![]() So, you can see if the chosen currency is weak or strong. ![]() What are Forex Currency Strength Meters?Įssentially, Forex Currency Strength Meters offer a graphical representation of ongoing and active currencies in the market. Organizations, investment banks, commercial banks, and retail investors all participate in this market. Rather than that, it is a network of links established via trading terminals and computer systems. Today however, we’ll talk about forex currency strength meters.Ī unique feature of the world forex markets is the absence of physical trading venues. Nevertheless, it has become more retail-oriented in recent years, and investors and traders with a range of holding sizes have begun to participate. Historically, institutional firms and large banks dominated the forex market, acting on behalf of their clients. It is the world’s only real-time market for trading. "Not looking good for Genesis, apparently," Cory Klippsten, an outspoken critic of non-bitcoin cryptocurrencies and the chief executive of bitcoin-buying app Swan Bitcoin, posted to Twitter in reference to unconfirmed social media rumors that DCG is desperate "to sell Genesis’ loan book.The foreign exchange market (forex market) is where currencies are bought and sold. "From the moon, all the lunatics are now crashing down to Earth." " now all in huge trouble and, or collapsing," NYU economics professor Nouriel Roubini, known as Dr Doom, posted to Twitter. The Genesis situation, coming hot on the heels of the FTX implosion, has caused consternation among the crypto community, with crypto skeptics predicting it could be the next domino to fall as rumors fly over the future of crypto exchange Gemini and crypto financial services company Galaxy Digital. "After reviewing a number of options, we made the difficult decision to temporarily suspend redemptions and new loan originations in the lending business so that we can identify the best solution and outcome possible for clients." "Genesis had been exploring all possible options amidst the liquidity crunch resulting from the FTX news," a company spokesperson told the Journal. and its founder Sam Bankman-Fried (SBF) resigned as chief executive. Just last week, FTX filed for bankruptcy protection in the U.S. "There has been a target on Genesis's back for days," Joseph Edwards, an investment partner at Securitize Capital, told Reuters, adding it's "a signal of worse outcomes" for the crypto market due to Genesis' close links with brokers, family offices and money managers.įTX's sudden collapse this month was partly triggered by reports that a significant portion of its balance sheet was made up of illiquid cryptocurrencies it had created. DCG, last year reportedly valued at $10 billion, also owns bitcoin and crypto miner Foundry, asset manager Grayscale, crypto exchange Luno and news outlet Coindesk.Īhead of the withdrawal suspension, Genesis requested an emergency loan of $1 billion from investors, it was reported by the Wall Street Journal, citing a leaked fundraising document that described a "liquidity crunch due to certain illiquid assets on balance sheet." This week, Genesis, one of the biggest crypto lenders that makes up part of DCG's sprawling crypto empire, suspended customer redemptions in its lending business, blaming the sudden FTX meltdown. ![]()
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