Genesis will soon close all of its services, according to a Sept. 14 report.
A Genesis spokesperson was on record saying:
“Genesis has decided to stop offering digital asset spot and derivatives trading through GGC International, Ltd. (GGCI)…With this termination of services from GGCI, Genesis no longer offers trading services through any of its business entities.”
The spokesperson said further that Genesis made this decision “voluntarily and for business reasons,” which appears to exclude regulatory intervention as a cause.
Previously, on Sept. 5, Genesis said it would shut down its over-the-counter (OTC) trading desk for U.S. clients. By contrast, the latest announcement extends to the company’s international services, according to a Genesis spokesperson.
Still, other reporting quotes an email to customers suggesting that Genesis will honor open derivatives positions until expiry. It also says that the company will support transactions used to manage or close any open pos
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