Digital Currency Group (DCG), a giant investor in the cryptocurrency industry, has decided to close its subsidiary TradeBlock, where it provides brokerage services to institutional brokerage customers.
In the news published by Bloomberg on May 25, DCG’s global macroeconomic reasons and current situation in the crypto money industry. regulatory uncertainty. subsidiary that provides brokerage services to its corporate customers. Turn off TradeBlock He said he made the decision.
In line with the decision taken, the closing process of the company 31 May While it was reported that it will start as of the date of the process, no details regarding the legal process were shared.
A company spokesperson said on the subject that the macroeconomic environment the compulsion of as well as in the USA to digital asset regulation a clear framework not being able to draw Cryptocurrency operations of the problems arising that negatively affect implied. Moreover of the crypto winter than expected LONG It was also mentioned that the continuation of TradeBlock was one of the reasons for the closure.
by DCG 2020 No information was shared about the acquisition costs of the company acquired in 2018. Company in the past 15 years along at Goldman Sachs and vice president of institutional markets at Ripple (XRP) Breanne Madigan was managed by
The entity acquired by the company last January HQ judicial asset management department also that you closed had announced.