Share this article
Genesis Has Ceased All Crypto Trading Services: Spokesperson
Company was hit hard by the collapses of Three Arrows Capital and FTX.
By Nick Baker
Updated Sep 14, 2023, 6:38 p.m. Published Sep 14, 2023, 4:11 p.m.
Genesis, the crypto-trading business walloped by last year’s collapse of Three Arrows Capital and FTX, has ceased all trading operations, according to a spokesperson.
It emerged last week that the company was shutting its U.S. desk, but the international spot and derivatives trading operations are also closing, the spokesperson said.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Genesis has decided to stop offering digital asset spot and derivatives trading through GGC International, Ltd. (GGCI),” the statement reads. “This decision was made voluntarily and for business reasons. With this termination of services from GGCI, Genesis no longer offers trading services through any of its business entities.”
Genesis is, like CoinDesk, owned by Digital Currency Group.
When Genesis’ lending division filed for bankruptcy protection in January, the trading business was kept out of that process. But industry conditions have worsened since then. Genesis was a major player before the trouble began last year, providing trading services to institutional clients.
Read more: Coinbase Creates New Crypto Lending Service Geared Toward Large Investors
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
