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HK crypto over-the-counter service Genesis Block to end trading: Reuters

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Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to clients.

See related article: Bahamas regulator orders transfer of all FTX digital assets to government wallet

Fast facts

  • Genesis Block will not take in new users and is asking users to withdraw their funds, according to the report.
  • Genesis Block did not respond to Forkast’s request for comment.
  • Genesis Block is a different company from Genesis Global Trading, a crypto investment bank that has paused withdrawals of assets.
  • HK01, an investigative news outlet in Hong Kong, reported on Thursday that Clement Ip, cofounder of Genesis Block, once served as a director at FTX Hong Kong Limited.

See related article: Who is exposed to FTX? A running compilation on a rapidly moving target

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