Major crypto player Genesis Global Capital suspended customer redemptions in its lending business on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal. After a flurry of tweets and interviews by Bankman-Fried, FTX said he "has no ongoing role" at the company and does not speak on its behalf.
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