💵 Genesis lends $425 million of crypto in Q1 – and not just to short sellers

Genesis Capital Management lent some $425 million of crypto in Q1 2019, bringing the total to $1.53 billion since it first began lending in March 2018, according to a report. From January on, Genesis' outstanding loan portfolio is up 17% with $181 million outstanding as of March 30th. The average loanee pays back in six weeks with only 3-5% of Bitcoin ($BTC) loans going to short sellers. Over the period, Genesis lent 68% in Bitcoin, 6.7% in $XRP, and 3.6% in both Litecoin ($LTC) and Ethereum ($ETH). Fiat loans, launched in late 2018, make up 10% of Genesis' loans.