Genesis Global Trading, an associate of Barry Silbert’s Digital Currency Group (DCG), is stopping its spot crypto trading service on September 18 for “business reasons”, according to a press report.
The company is closing its trading services for business reasons so customers need to complete any pending transactions by September 21, and left open accounts would be closed by the end of the day on September 30.
“This decision was made voluntarily and for business reasons,” the report stated.
Genesis Global Trading (GGT) began its trading services in 2013 and is registered by the New York State Department of Financial Services. GGC International Limited will be still operating its spot and derivative trading services.
Genesis Trading’s website states: “Genesis Global Trading, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.”
Genesis Global Trading (GGT) is connected with the Digital Currency Group (DCG) but wasn’t impacted when the DCG’s cryptocurrency lending business, Genesis Global Capital went bankrupt in January.
GGT was one of the few companies connected to Genesis that escaped bankruptcy this year due to issues with the crypto lending corporation.
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