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Digital Currency Group – the cryptocurrency firm founded and led by Barry Silber – announced today that it will be shutting down its trade execution and prime brokerage unit – TradeBlock.
- according to bloomberg reportsThe shutdown of the unit will be effective from May 31.
- DCG-owned news outlet CoinDesk also revealed a later statement:
Due to the state of the broader economy and the prolonged crypto winter, along with the challenging regulatory environment for digital assets in the US, we have closed the institutional trading platform side of the business, known as TradeBlock, effective May 31, 2023. ,
- Interestingly enough, TradeBlock was acquired by the media company itself back in 2020, but was later spun off as a standalone business. Details of the acquisition were not disclosed.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
[ad_1]
Digital Currency Group – the cryptocurrency firm founded and led by Barry Silber – announced today that it will be shutting down its trade execution and prime brokerage unit – TradeBlock.
- according to bloomberg reportsThe shutdown of the unit will be effective from May 31.
- DCG-owned news outlet CoinDesk also revealed a later statement:
Due to the state of the broader economy and the prolonged crypto winter, along with the challenging regulatory environment for digital assets in the US, we have closed the institutional trading platform side of the business, known as TradeBlock, effective May 31, 2023. ,
- Interestingly enough, TradeBlock was acquired by the media company itself back in 2020, but was later spun off as a standalone business. Details of the acquisition were not disclosed.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
