Digital Currency Group to shutter institutional trading unit TradeBlock
Starting May 31, TradeBlock will commence the official procedure of winding down its operations. Venture capital conglomerate Digital Currency Group (DCG) is closing its prime brokerage subsidiary TradeBlock, citing the state of the broader economy and an uncertain regulatory environment for crypto in the United States. According to a May 25 report from Bloomberg, TradeBlock, led by Breanne Madigan, will officially begin the process of shutting down effective May 31. Barry Silbert’s crypto conglomerate, Digital Currency Group, is shuttering its TradeBlock institutional trading platform https://t.co/duE4YnknrR — Bloomberg Crypto (@crypto) May 25, 2023 “Due to the state of the broader economy and prolonged crypto winter, along with the challenging regulatory environment for digital assets in the US, we made the decision to sunset the institutional trading platform side of the business,” a spokesperson reportedly told Bloomberg. DCG and its portfolio of companies have faced chal...