by Wieke Beenen The American company Genesis, a money lender, has filed for partial bankruptcy. The company currently has about 3 billion dollars (2.77 billion euros) in debt. Genesis is part of the Digital Currency Group (DCG), a conglomerate of more than 200 crypto-focused businesses. One of Genesis’ main activities was lending money to crypto companies. It brokers digital assets for financial institutions like hedge funds and asset managers and had almost $3 billion in total active loans going on, at the end of the third quarter of last year. Genesis stopped giving out new loans and blocked customers from taking out money because of what it called “unprecedented market…

by Wieke Beenen The price of bitcoin has increased by more than 20 percent in seven days. The value went up to $20,847 (19,244 euros) on Monday morning. A week earlier, the digital coin was worth about $17,000. The price has mainly gone up because investors expect that there won’t be any more rate hikes. Recently, the central banks had drastically raised interest rates to curb inflation. But now it seems that the inflation may have finally peaked. As a result, interest rates will likely not rise as quickly as last year. When interest rates are high, households tend to spend less and save more, and companies are more cautious…