According to a Genesis spokesperson, the firm will “voluntarily and for business reasons” wind down digital asset trading through all of its entities.
Crypto lending firm Genesis, a subsidiary of Digital Currency Group , will stop offering spot and derivatives trading for crypto assets through its British Virgin Islands unit.
According to a Sept. 14 statement from a Genesis spokesperson, the firm will “voluntarily and for business reasons” wind down its digital asset trading services through all of its entities. Genesis had been offering trading services through its GGC International arm in the British Virgin Islands. The move followed Genesis Global Trading — a firm also affiliated with DCG but not subject to the same bankruptcy proceedings as Genesis Global Capital — announcing in January it wouldunder similar circumstances — i.e. “voluntarily and for business reasons”. GGC International had still been offering spot and derivatives trading at the time.
Genesis Global Capital halted withdrawals in November 2022, citing “unprecedented market turmoil” at the time. Reports from January
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