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Genesis Block HK Has More Than $50 Million Stuck in FTX

Genesis Block HK, a crypto over-the-counter (OTC) trading firm based in Hong Kong, has funds stuck in the now-bankrupt crypto exchange FTX, two people with knowledge of the matter told The Block.

The exposure is worth more than $50 million, one of the sources said. The impact is significant enough that Genesis Block is shutting down its OTC business on Dec. 10, according to the source and an email from Genesis Block sent to its customers and obtained by The Block.

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