Genesis Global Capital Winds Down Crypto Trading Operations

Genesis Global Trading announces that it will wind down all remaining crypto trading operations by September 21.

byJahnu Jagtap

Published on - September 15, 2023 17:05

Updated on - September 15, 2023 17:05

1 minute read

Genesis Global Capital Winds Down Crypto Trading Operations

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.

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Jahnu Jagtap

Jahnu Jagtap is an Analyst, with over two years of experience in the crypto industry. With a deep understanding of the ever-evolving crypto market and a passion for sharing his knowledge with others. As an analyst, he has spent countless hours analyzing crypto market trends and studying the latest developments in the industry. Jahnu is also a skilled writer. He shares his analysis with a wide audience and provide them with useful insights from his knowledge and experience. His writing is clear, concise, and easy to understand, making it accessible to readers of all levels of experience.