Genesis, once among the largest, announces that it will no longer offer cryptocurrency trading services through any of its business entities. The subsidiary of Digital Currency Group (DCG) has decided to halt spot and derivatives transactions.
As per a memo circulating in the mail, GGCI will stop offering derivatives trading immediately, while spot trading will cease on Sept. 21.
A Genesis spokesperson says “This decision was made voluntarily and for business reasons.”
Genesis Global Trading, a firm also affiliated with DCG but not subject to the same bankruptcy proceedings as Genesis Global Capital, also halted trading services.