Genesis, a DCG-affiliated company, has voluntarily decided to stop offering crypto spot and futures trading through its global branch in the British Virgin Islands.
A Genesis spokesperson told CoinMarketCap on September 14 that this was a business decision. The global branch, known as Genesis Global Capital (GGC), had been providing trading services in the region.
This comes after another DCG-related entity, Genesis Global Trading, also stopped its crypto spot trading services in January for commercial reasons. At that time, GGC’s international arm was still active in spot and futures trading.
GGC had already suspended withdrawals in November 2022 due to extreme market volatility.
The company also faced significant layoffs in January and filed for Chapter 11 bankruptcy in New York.
Additionally, the SEC accused Genesis and Gemini, a crypto exchange, of selling unregistered securities through Gemini’s Earn program.
