Genesis Block, a leading Hong Kong cryptocurrency service provider, has announced that it has ceased operations following the bankruptcy of FTX.
Hong Kong’s leading cryptocurrency service provider, according to a Reuters report dated November 18. Genesis Blockdue to the effects of the FTX bankruptcy on the market ceased its operations. Company CEO Wincent Hung stated that they stopped trading and operations because they did not know which side would fail in the next step.
According to the news, Genesis Block sent an email to its customers. over-the-counter trading (OTC) platform December 10 He said he would close on . Customers were asked to withdraw their money in the email and new customer acceptance that you will not do was also underlined. The CEO says that they do not know which side will fail in the next step, so liquidity is a part of it. regain part in the name of they prefer to close their positions expressed.
According to the information provided, a Genesis Block official was previously an executive at FTX Hong Kong, but resigned from his position this month. In addition, according to information provided by close sources, the company had begun to sever ties with FTX and liquidate its business in Hong Kong before the bankruptcy of FTX.
Before selling Genesis Block network to Coinhero, Asia’s largest bitcoin ATM your network owner It was also known as