First mover US: Digital currency group is shutting down TradeBlock

Digital Currency Group (DCG), parent company of CoinDesk closing down Its trade execution and prime brokerage services unit, TradeBlock, citing crypto winter and regulatory uncertainties. A DCG spokesperson told CoinDesk that the shutdown of the unit, which provides trading services to institutional investors, will be effective May 31. TradeBlock was acquired by CoinDesk in 2020, and has since grown into its own standalone business. CoinDesk Indices Data operated out of the deal, which was re-branded as CoinDesk Indices, and “has proven to be a successful acquisition,” the spokesperson said. The story was first reported by Bloomberg.