Cryptocurrency trading company Genesis has decided to stop all its trading operations due to serious issues such as the collapses of Three Arrows Capital and FTX 😢. As a result, Genesis is closing its US trading desk and international spot and derivatives trading operations.

Genesis recently announced a repayment plan agreement with DCG that will allow creditors to recover between 70% and 90% of their claims. The decision to discontinue crypto trading services was made in response to industry challenges.

Closing dates: International services will end on September 21st and American desk will end on September 18th. Customers are advised to close their trades by next Thursday as accounts will close on September 30th ⏳.