Genesis Global Trading announced that such a decision was made for commercial reasons.
According to the statement, the company will end its spot cryptocurrency trading from September 18.
Genesis Global Trading, a subsidiary of the Digital Currency Group, was among the companies that were hit hard by the bear market. Another subsidiary of DCG, crypto lending platform Genesis Global Holdco also announced that it filed for bankruptcy last January.
A Genesis spokesperson said:
“This decision was made voluntarily for commercial reasons.
We are in close contact with regulators to coordinate the regular shutdown of crypto trading services.”
Genesis Global Trading is a trading platform licensed by the “New York State Department of Financial Services,” according to the information on the company’s website.
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