Just after reassuring a worried customer Days later, Marius Reitz, general manager of crypto exchange Luno Africa, recently reiterated that the company was not affected by Genesis Capital’s decision to suspend withdrawals. He added that Luno customers will be able to access funds in their savings wallets despite the lending partner’s decision to freeze withdrawals.
Customers maintain access to funds in savings wallets
According to Marius Reitz, general manager of cryptocurrency exchange Luno Africa and his It operates as intended and is not affected by Genesis. Suspension of capital “redemption and origination of new loans”. Reitz added that exchanges owned by the Digital Currency Group (DCG) have so far “not seen any significant changes in deposits, withdrawals or trading volumes.”
As reported by Bitcoin.com News, Genesis has suspended customer withdrawals “in response to the extreme market turmoil and loss of industry confidence caused by the FTX implosion.” did. He is also owned by DCG, and rumors began circulating that cryptocurrency exchanges could suspend withdrawals after the announcement by his Genesis, a lending partner for Luno’s savings wallet.
To quell this speculation, Luno, which was acquired by DCG in 2020, issued a statement on November 16 to reassure concerned customers. rice field. Savings wallets will be retained in case withdrawal from Genesis is not possible. However, ongoing reports suggest that Genesis has failed to close the billion-dollar hole in its books, fueling bankruptcy rumors. I’m here.
Luno said his DCG independent operating subsidiary
Genesis has since denied filing for bankruptcy, although rumors have spread. Because Luno’s general manager seems to have been forced to withdraw due to persistent opposition to freeze speculation. In his latest remarks on the matter, Reitz reportedly:
Luno will continue to be a wholly owned and independent operating subsidiary of his DCG. and this has not changed. Luno’s customers and operations were unaffected during this period.
In previous statements, the cryptocurrency exchange claimed that “all savings wallet funds are now on the Luno platform,” meaning that customers have full access to it. was
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