Genesis has ceased trading services across all its business units, including GGC International, citing voluntary business reasons. Amid spiraling financial woes and regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC), the company filed for chapter 11 bankruptcy in January but kept its trading arm separate from proceedings, CoinGeek.com reported. Last week, digital asset finance firm Genesis announced to its clients via email that it was halting all trading services across its business units, including GGC International, which facilitated the company’s spot trading activities. Genesis reportedly said that the decision “was made voluntarily and for business reasons” while at the same time reassuring clients with open derivatives positions that they would be honored until their expiry. The termination will be effective as of September 21.
