Genesis Global Trading to Shut Down Spot Crypto Trading Business


This article has been republished with permission from Binance News.

According to CoinDesk, Genesis Global Trading (GGT) will shut down its over-the-counter trading platform on September 18. Clients were informed of the decision via email, which stated that the closure was voluntary and due to business reasons. All trades must be settled by September 21, and any remaining open accounts will be closed by the end of the day on September 30.

GGT was one of the few Genesis-linked companies that avoided bankruptcy earlier this year, following issues with the conglomerate’s crypto lending. GGC International Limited, another trading-focused subsidiary, will continue to operate its spot and derivative trading services. CoinDesk is also owned by the parent company, DCG.

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