Digital Currency Group (DCG), a leading digital-asset conglomerate, has announced the closure of its TradeBlock subsidiary citing the challenging regulatory environment for digital assets in the US and the prolonged crypto winter.
The platform, which provides trade execution, pricing, and prime brokerage services to institutional investors, will cease operations effective May 31st, 2023, according to a recent Bloomberg report.
DCG Shuts Down TradeBlock
The move by DCG comes as the company negotiates with creditors of its bankrupt lending business. The closure of TradeBlock is expected to have significant implications for the cryptocurrency market, particularly for institutional investors who rely on the platform for trading and pricing services.
CoinDesk Inc., a cryptocurrency media and events company also controlled by DCG, acquired TradeBlock in 2020. As part of the acquisition, the indexing business…
