Genesis, a subsidiary of Digital Currency Group (DCG), has decided to voluntarily wind down its digital asset trading services through all of its entities. The move comes after Genesis Global Trading, another DCG-affiliated firm, announced the elimination of its crypto spot trading services earlier this year. Genesis Global Capital halted withdrawals in November 2022 due to "unprecedented market turmoil" and later filed for Chapter 11 bankruptcy protection. The firm reportedly owes around $3.5 billion to its top 50 creditors, and its legal and regulatory issues have caused significant disruptions in the crypto space.