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2022-11-18 -Lurid Crime Tales-

Hong Kong's leading crypto retail operator says it ceases trading as FTX fallout roils sector

HONG KONG, Nov 18 (Reuters) - A leading cryptocurrency retail service provider in Hong Kong said it has ceased trading as the broader fallout from the collapse of FTX, and solvency issues at other major crypto firms, continues to roil the sector.

Genesis Block, which at one time operated one of Asia's biggest bitcoin ATM networks, said it would be closing down its over-the-counter trading portal on Dec. 10, according to an email to customers sent by its compliance department reviewed by Reuters.

"We have ceased trading, as we don't know which counterparties would fail next, so we would rather close out all our positions to regain some of our liquidity," chief executive Wincent Hung told Reuters this week.

Posted by Besoeker 2022-11-18 07:37|| || Front Page|| [11132 views ] Top

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