Genesis Trading CEO Michael Moro on Wednesday said Three Arrows Capital (3AC) was the large counterparty that failed to meet a large margin call in June, forcing liquidation of the related collateral. • Since then, said Moro, Genesis has worked with parent Digital Currency Group (DCG) to continue to isolate risk, with DCG also assuming certain liabilities of Genesis related to troubled hedge fund 3AC. DCG is also the owner of CoinDesk. • CoinDesk last week reported Genesis was facing hundreds of millions of dollars in losses thanks in part to its exposure to 3AC, and also noted the deep pockets of parent DCG as ... (full story)