Genesis has sought an emergency loan of $1 billion

Genesis, which is a lending platform that had lent coins to FTX has asked it's investors for a $1 billion loan to tide it over and allow customer withdrawals, while it tries to retrieve it's stolen money from FTX.

Will investors give them the money?

It depends on how sound they think Genesis' underlying business is.

If everything is OK, it would be a shame to allow them to collapse just because they're the victims of fraud by FTX.

On the other hand investors need strong nerves - some of them will have already lost money in FTX.

For those who short crypto, Genesis is a crucial part of the architecture as they are the main group lending out coins. Paradoxically, if they go under, shorting will be curtailed which will put a floor under bitcoin's price.