The decision by Genesis Global Trading (GGT) to wind down its business was reportedly voluntary and is currently working with regulators to ensure an orderly closure of services.
Despite the layoffs, the CEO remains convinced that client funds are safe and assures the company remains strong.
Recent announcement by the lending arm of the crypto investment bank Genesis Global suggests that FTX contagion may be in full effect.
Fireblocks announced that it is now transacting at least $2.5 billion in cryptocurrencies every month and has already achieved a 400% increase in customer growth and a 150% monthly transfer volume growth rate.
Both the European and Asia branches of Fidelity International are exploring the perception of customers towards cryptocurrencies via a newly launched trading simulator specifically designed for digital assets.
Owing to a recently signed partnership between blockchain custodian BitGo and over-the-counter exchange Genesis, there is no need to lose time transferring your crypto-assets from a cold wallet to the exchange as you can trade directly from BitGo.
Ten leading financial services and technology firms have launched the Association for Digital Asset Markets to develop a Code of Conduct for the industry.
Financial services provider Square has got the NYSDFS 7th-ever BitLicense allowing New Yorkers to trade cryptocurrency on the rapidly growing Cash app.