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About Genesis Trading
Genesis Trading is a cryptocurrency broker focused on institutional clients, offering one-stop services such as over-the-counter (OTC) trading, lending, and custody. Its core competitiveness lies in a deep institutional-grade liquidity network, capable of handling large transactions and providing customized risk management and capital efficiency solutions. Market pain points include fragmented liquidity, high counterparty risk, and regulatory uncertainty in the crypto market. Genesis mitigates these through compliant operations (e.g., holding SEC and FINRA broker-dealer licenses) and strict KYC/AML processes. Regarding development in the past six months (March to September 2026), there is no reliable public information, so specific details cannot be provided.
Genesis Trading, founded in 2013, pioneered OTC crypto brokerage and institutional lending. It expanded into derivatives and custody, becoming a major lender with $1B+ in loans by 2021. The 2022 collapse of Three Arrows Capital forced $2.36B in loan write-downs, followed by FTX's bankruptcy locking $175M in funds. Parent DCG injected $140M but later sued Genesis for $105M+ in claims. In late 2022, Genesis halted redemptions and filed for Chapter 11 bankruptcy in January 2023. Subsequent months saw massive BTC/ETH transfers to exchanges, suspected of liquidation, including ~$760M in BTC to Coinbase over one month. These events marked the fall of a once-dominant crypto lender, reshaping institutional credit risk.
Genesis Trading, in bankruptcy proceedings since January 2023, has continued its court-supervised liquidation over the past six months (March–September 2026). On-chain data from late April 2026 shows the firm transferred 1,482 ETH (worth ~$3.38M at the time) to exchanges including Binance, OKX, and Bybit, signaling ongoing asset sales to repay creditors. This follows a pattern of periodic ETH deposits since early 2025. No new business development or strategic roadmap has been announced; the company's sole focus remains executing the liquidation plan under court oversight. Official channels (website, X) provide no updates beyond bankruptcy-related disclosures. The market impact of these sales has been limited, with ETH absorbing the sell pressure without major price disruption.
Khing Oei (Board Member)
Khing Oei serves as a board member of Genesis Trading. He is the Founder & CEO of Treasury, an emerging euro-denominated Bitcoin treasury firm, and Chair of Cypherpunk. Previously, he was a Senior Advisor at Attestor Limited, a multi-billion dollar hedge fund and the largest creditor of FTX. He also founded Eyck Capital Management, an event-driven and distressed hedge fund with $200M AUM, and held roles at Bardin Hill (formerly Halcyon) and Goldman Sachs. He holds an MSc in Econometrics from VU Amsterdam.