Genesis Global Trading (GGT) has announced that it will be discontinuing its spot crypto trading platform on September 18. All trades must be completed by September 21, and any open accounts will be cancelled at the end of the day on September 30. According to the company, the decision was made voluntarily and for business purposes.
Earlier this year, GGT was one of several Genesis-affiliated businesses that avoided bankruptcy due to crypto financing. To pay back its creditors, Genesis is currently attempting to raise funds. Digital Currency Group (DCG), the parent company of Genesis, recently reached an in-principle agreement with these creditors.
Another division of the company, GGC International Limited, will continue to offer its spot and derivative trading services.
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