Genesis’s spot cryptocurrency trading business will shut down later this month, according to a report from the Daily Planet. According to an email sent to clients on Tuesday, Genesis Global Trading (GGT) will shut down its over-the-counter trading desk on September 18.
All trades must be settled by September 21, and all remaining open accounts will be closed on the 30th. "This decision was made voluntarily for business reasons," the email said.
Another subsidiary focused on trading, GGC International Limited, will continue to operate its spot and derivatives trading services.