The aftermath of FTX’s bankruptcy seems to be spreading to domestic companies. Gopax announced that it will delay the payment of the principal and interest of Gopai, a cryptocurrency loan service. The move comes after Genesis Global Trading, a cryptocurrency loan service company that cooperates with Gopax, temporarily suspended new loans and repayments.
According to industries on the 17th, Gopax posted an announcement and announced that the payment of principal and interest for Go-Fi freestyle products is being delayed. Gopai is a cryptocurrency deposit service provided by Gopax in cooperation with Genesis Global Capital. You can deposit your own cryptocurrency and receive interest income as cryptocurrency during the deposit period.
Gopax said in a notice that Genesis Global Capital CEO Deral Islim asked for repayment of all assets to protect customer assets, but the repayment has not yet been implemented before announcing the suspension of repayment of the loan. He added, “We are continuously communicating with Genesis Global Capital and its parent company Digital Current Group (DCG) to receive payments.” DCG is the second-largest shareholder of Gopax. It is the parent company of Genesis Global Trading, and FTX is included in the portfolio company.
“We are continuing to communicate as indicated in the notice,” a Gopax official said in a telephone interview with D-Center. “It is difficult to disclose the amount of funds tied to Gopai due to contractual relations.”
Genesis Global Trading, a cryptocurrency loan service company, announced on the 16th (local time) that it has temporarily decided to suspend redemptions and new loans in the loan business. Genesis Trading said on its official Twitter account, “Our top priority is to provide services to customers and preserve assets,” adding, “We made a difficult decision through consultation with the company’s professional financial advisors.”