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The spot trading platform was among the few that were exempt from the bankruptcy filing of Genesis Global, the crypto lending firm that filed for Chapter 11 in January 2023. advertisement Also Read: XRP Lawyer: US SEC Hiding Secret Howey Memo To Protect Itself Why did Genesis end spot trading? To reiterate, spot trading will end its operations only in the United States . GGC International Ltd. will remain operational, with both spot and derivatives trading services available for users based outside the U.S. The reason for the closure of the U.S. branch can be attributed to the regulatory uncertainty in the United States. Genesis Bermuda Holdco Ltd., which is registered in the British Cayman Islands, owns GGC International. Due to the ownership of GGC International has the freedom to conduct business internationally. Recommended Articles Crypto Presale Projects For 2...

Cryptocurrency lender Genesis officially filed for Chapter 11 bankruptcy on January 20, 2023. It was revealed that the cryptocurrency lender owed its creditors over $3 billion. Moreover, the SEC charged Genesis for the sale of unregistered securities. Thus, the bankruptcy decision was made. New information has surfaced regarding cryptocurrency lender Genesis , according to details obtained by CNBC. The details revealed that three former employees of Genesis claimed to have raised millions of dollars for a new cryptocurrency hedge fund. Read more: Shiba Inu Burn Rate Plummets Despite Recent Spike, Here’s Why Source: Tradingview Hunting Hill Digital, the fund by former Genesis employee The cryptocurrency hedge fund called Hunting Hill Digital was the idea of Matt Ballensweig, who worked for the cryptocurrency lender for over five years. Ballensweig sent a message to an investor in December regarding the details of the fund. The message stated that Ballensweig had r...