An email addressed to clients recently announced that Genesis’ spot crypto trading operation would close later this month.
The over-the-counter trading platform of Genesis Global Trading (GGT) will close on September 18. By September 21st, all deals must be completed, and any open accounts that remain will be closed at the end of the day on September 30
. The email stated that the decision was made willingly and for business purposes. GGT was one of a select group of Genesis-affiliated companies that avoided the conglomerate’s insolvency earlier this year as a result of crypto lending. The email stated that GGC International Limited, another division with an emphasis on trading, will keep operating its spot and derivative trading services.