Genesis Global Trading Platform To Close On Sept 18 Amidst Clash With Gemini

September 21 is the final deadline for all trades to be settled, following a voluntary decision made by Genesis Global Trading for business reasons; and by the end of the month, all remaining open accounts will be closed. The closure of its spot crypto trading platform marks another chapter in the on-going saga that saw the company avoid bankruptcy earlier in the year- a contrast to the prescription of several other Genesis-linked firms. That said, GGC International Limited, the trading arm of the organization, will continue to provide both spot and derivative trading services. The tensions that exists between Gemini and Genesis did not help matters either; the exchange accuses the Genesis Global Trading of manipulating votes related to a proposed settlement with FTX. This led to Gemini launching an initiative that equipped creditors with getting the best returns from Digital Currency Group (DCG), the parent firm of Genesis, which is looking to tackle its two imago ($3.4 billion) debt.

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