{"id":367071,"date":"2019-01-02T17:01:22","date_gmt":"2019-01-02T17:01:22","guid":{"rendered":"https:\/\/ktsl888.com\/?p=367071"},"modified":"2019-03-11T20:39:43","modified_gmt":"2019-03-11T20:39:43","slug":"crypto-lending-bear-market","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-lending-bear-market\/","title":{"rendered":"Crypto Lending Business Booms Amidst Bear Market"},"content":{"rendered":"
The bear market has been a bane for many crypto investors and related businesses that have struggled to remain profitable during continued price decline<\/a>.<\/span><\/p>\n However, the niche market of crypto lending is currently booming despite the rest of the market and industry suffering.<\/span><\/p>\n While some of the most prominent names in the cryptocurrency space \u2013 from Bitmain<\/a> to Huobi<\/a>, to crypto start-up incubator Consensys<\/a> \u2013 are seeing revenue declines, closing down operations in some locations, and are laying off employees<\/a>, crypto lenders such as Genesis Capital are raking in profits, growing, and even adding more employees during the current year-long bear market.<\/span><\/p>\n In fact, Michael Moro, chief executive officer of Genesis Capital told Bloomberg<\/a> in a phone interview that the bear market itself \u201chas fueled the growth,\u201d of his business.<\/span><\/p>\n \u201cWe\u2019ve been profitable from day one\u2026 We\u2019ve certainly proven that there is market demand, that there\u2019s product fit and that it\u2019s time to invest even more in this side of the business,\u201d Moro elaborated.<\/span><\/p>\n Genesis is seeking to double its current staff and expanding into other regions including Asian territories, during a time when others are downsizing. \u201cThe bear market has certainly helped,\u201d Moro said.<\/span><\/p>\n Related Reading | Genesis Trading CEO: Bears Are Running Out of Steam, Bitcoin to $10K<\/a><\/strong><\/em><\/p>\n Genesis Capital lends crypto to institutional investors at varying rates, with Bitcoin<\/a>\u2019s rate between 10 and 12 percent annually. Genesis launched in March of 2018 and in just nine short months has already issued $700 million in loans, with $140 million currently outstanding.<\/span><\/p>\n It\u2019s not just Genesis that\u2019s struck digital gold with the current bear market. ETHLend parent company Aave chief executive officer Stani Kulechov called crypto-backed lending \u201ctrue magic,\u201d because the business model continues to perform well during a bear market.<\/span><\/p>\nCrypto Creditors Creating Opportunity Out of Market Despair<\/span><\/h2>\n
Crypto-Lending for Cash and Short Selling <\/span><\/h2>\n