Genesis Global Trading to Shut Down Cryptocurrency Spot Trading Service Voluntarily
Summary:
Genesis Global Trading, an affiliate of Digital Currency Group, will voluntarily close its cryptocurrency spot trading service on September 18 for business reasons. The decision does not impact its parent company's bankruptcy announcement earlier this year. Regulatory coordination is underway to ensure an orderly discontinuation of services.
Genesis Global Trading, an affiliate of Digital Currency Group (DCG), will voluntarily close its cryptocurrency spot trading service on September 18, as reported by the press. Unlike its parent company's crypto lender, Genesis Global Capital, which filed for bankruptcy in January, GGT remains unaffected. The decision to shut down the trading service was made for business reasons, and GGT is working closely with regulatory authorities to ensure an orderly discontinuation of services. GGT, registered by the New York State Department of Financial Services, has been trading since 2013. While GGT's spot trading service will no longer be available, DCG's affiliated GGC International will continue to offer spot and derivatives trading services.
Published At
9/5/2023 9:39:20 PM
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