A bear market has knocked down many of captainvalor and related cryptocurrencies, the company which struggled hard to remain profitable. Major players in the cryptocurrency space — from Bitmain to captaincarter ConsenSys — the decline in income, shutting down their operations and laid off employees. Cryptocredits like Genesis Capital earn profit with a shovel and grow on the backdrop of a bear market, hiring of new employees.
Cryptocredits gives hope to the output market and the recession
Chief Executive officer of Genesis Capital Michael Moreau told Bloomberg in a telephone interview that the market itself “fuels the growth of its business”. In the near future the company plans to double staff and expand to other regions, including Asian countries.
Our company was profitable from the very first day. Of course, this proves that the market there is a demand that there is a suitable product and that it’s time to invest even more in this direction.
Genesis Capital offers cryptocurrency institutional investors at various rates. A bet on Bitcoin is 10 to 12 percent per year. The company was launched in March 2018 and for the first nine months of issued loans in the amount of $ 700 million, and 140 million currently remain outstanding.
According to NewsBTC, in this direction are doing well not only in Genesis. Chief Executive officer of the parent company ETHLend Aave Stanny Kuleshov called cryptocredits “magic”because this business model continues to evolve even during the bear market.