Genesis Global Trading (GGT) has announced that it will be shutting down its cryptocurrency spot trading service on September 18, 2023. The decision was made by GGT independently and is not related to Digital Currency Group’s (DCG) past financial difficulties. GGT, which is affiliated with DCG, stated that the closure is a voluntary decision based on commercial concerns. The company is working with regulatory authorities to facilitate an orderly cessation of services.
GGT has been a prominent player in the cryptocurrency trading industry since 2013 and is registered by the New York State Department of Financial Services. Despite its affiliation with DCG, the closure of GGT’s spot trading service is an independent decision and not connected to DCG’s previous financial troubles.
It is important to note that the closure of Genesis does not impact the broader DCG ecosystem. DCG-affiliated GGC International will continue to provide spot and derivatives trading services, ensuring that cryptocurrency investors still have options within the DCG network.
Genesis Global Capital, a crypto lender under the DCG umbrella, faced significant setbacks earlier this year. The company filed for Chapter 11 bankruptcy in January following a legal dispute with the United States Securities and Exchange Commission (SEC). The SEC accused Genesis Global Capital of offering unregistered securities through its Earn program. This dispute resulted in staff layoffs and the suspension of withdrawals.
The problems at Genesis Global Capital also led to a legal dispute between the Gemini cryptocurrency exchange and the SEC. Gemini had significant funds tied to the Genesis Earn program and was charged by the SEC with offering unregistered securities.
DCG, led by Barry Silbert, is a major player in the cryptocurrency Market. Silbert is also the owner of Grayscale Investments, a company focused on cryptocurrency investments. Grayscale recently experienced a legal victory when the SEC reversed its decision and agreed to consider Grayscale’s application to create a Bitcoin spot exchange-traded fund (ETF).
In conclusion, Genesis Global Trading has announced the closure of its cryptocurrency spot trading service, which is set to take place on September 18, 2023. The decision was made independently by GGT and is not related to DCG’s past financial difficulties. GGT is working with regulatory authorities to ensure an orderly cessation of services. The closure does not impact the broader DCG ecosystem, and GGC International will continue to offer trading services. Genesis Global Capital, a crypto lender under DCG, faced setbacks earlier this year due to a legal dispute with the SEC. Despite these challenges, DCG remains a prominent player in the cryptocurrency market..
#Famous #Crypto #Money #Platform #Stops #Services #Date
GGT has been a prominent player in the cryptocurrency trading industry since 2013 and is registered by the New York State Department of Financial Services. Despite its affiliation with DCG, the closure of GGT’s spot trading service is an independent decision and not connected to DCG’s previous financial troubles.
It is important to note that the closure of Genesis does not impact the broader DCG ecosystem. DCG-affiliated GGC International will continue to provide spot and derivatives trading services, ensuring that cryptocurrency investors still have options within the DCG network.
Genesis Global Capital, a crypto lender under the DCG umbrella, faced significant setbacks earlier this year. The company filed for Chapter 11 bankruptcy in January following a legal dispute with the United States Securities and Exchange Commission (SEC). The SEC accused Genesis Global Capital of offering unregistered securities through its Earn program. This dispute resulted in staff layoffs and the suspension of withdrawals.
The problems at Genesis Global Capital also led to a legal dispute between the Gemini cryptocurrency exchange and the SEC. Gemini had significant funds tied to the Genesis Earn program and was charged by the SEC with offering unregistered securities.
DCG, led by Barry Silbert, is a major player in the cryptocurrency Market. Silbert is also the owner of Grayscale Investments, a company focused on cryptocurrency investments. Grayscale recently experienced a legal victory when the SEC reversed its decision and agreed to consider Grayscale’s application to create a Bitcoin spot exchange-traded fund (ETF).
In conclusion, Genesis Global Trading has announced the closure of its cryptocurrency spot trading service, which is set to take place on September 18, 2023. The decision was made independently by GGT and is not related to DCG’s past financial difficulties. GGT is working with regulatory authorities to ensure an orderly cessation of services. The closure does not impact the broader DCG ecosystem, and GGC International will continue to offer trading services. Genesis Global Capital, a crypto lender under DCG, faced setbacks earlier this year due to a legal dispute with the SEC. Despite these challenges, DCG remains a prominent player in the cryptocurrency market..
#Famous #Crypto #Money #Platform #Stops #Services #Date
