Genesis to Shutter Crypto Trading Desk for U.S. Market
Genesis Global Trading (GGT), a U.S.-focused spot crypto trading business, will close its over-the-counter trading platform on September 18 due to voluntary business reasons.
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Posted 9/5/2023, 4:27:00 PM
coindesk.com
Relevant topic timeline:
Genesis Global Capital (GGC) has filed two lawsuits seeking repayment of overdue loans totaling over $600 million from affiliated companies Digital Currency Group (DCG) and DCG International Investments (DCIG), both owned by DCG.
Genesis, the crypto-trading business owned by Digital Currency Group, has ceased all trading operations due to worsening industry conditions and business reasons.
Genesis Global Capital, a crypto lending firm and subsidiary of Digital Currency Group, will cease spot and derivatives trading for crypto assets through its British Virgin Islands unit due to voluntary and business reasons.