Genesis Global Trading to Voluntarily Shut Down Crypto Spot Trading Services

Genesis Global Trading to Voluntarily Shut Down Crypto Spot Trading Services



Genesis Global Trading, a subsidiary of the Digital Currency Group led by Barry Silbert, will voluntarily cease its crypto spot trading services on September 18 for undisclosed business considerations. This decision is unrelated to the Chapter 11 bankruptcy filed by its sister company, Genesis Global Capital, earlier this year.



The company spokesperson confirmed to Bloomberg that the shutdown is voluntary and aligns with business objectives, adding that they are collaborating with regulatory agencies to ensure a smooth termination of services. GGT has been operational since 2013 and is regulated by the New York State Department of Financial Services. Another affiliate under the Digital Currency Group, GGC International, will continue to offer spot and derivatives trading.



Genesis Global Capital had declared bankruptcy on January


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#Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Genesis, #GenesisGlobal, #GGC, #News

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