Genesis Global Trading (GGT) will end down all of its crypto trading products and companies in the U.S. and internationally.

Earlier this week, the company acknowledged it will perchance in all probability perhaps sunset its over-the-counter trading platform on Sept. 18 in an electronic mail to customers, telling them that all trades must be settled by Sept. 21 and any final launch accounts would possibly perchance perhaps be closed by the tip of day on Sept. 30.

A spokesperson for the company told CoinDesk on Thursday that the company had made up our minds to quit offering digital asset put and derivatives trading as properly.

“This resolution used to be made voluntarily and for industry causes. With this termination of products and companies from GGCI, Genesis now not gives trading products and companies through any of its industry entities,” acknowledged the Genesis spokesperson.

Genesis’ crypto lending arm filed for Chapter 11 financial nervousness early this year after the company halted withdrawals nearly immediately after FTX’s collapse. On the time, market participants believed that there used to be no precise put off for fear since the company’s parent firm, most well-known crypto conglomerate Digital Forex Group (DCG), would possibly perchance perhaps be in a blueprint to duvet the company’s liabilities.

Signs of nervousness emerged when DCG used to be unable to present the significant-wanted cash infusion and used to be as a replace considered closing down other ingredients of its businesses, at the side of its wealth administration division and taking a glance to divest a element of its $500 million endeavor portfolio.

Closing month, Genesis at closing reached an in-precept settlement with its unsecured creditors that would possibly perchance perhaps reportedly lead to recoveries of between 65%-95% of the price of claims.

Nevertheless, several creditor groups, at the side of crypto commerce Gemini, absorb antagonistic the plot, calling it “wholly insufficient” and asserting that the purported recoveries had been fully unsubstantiated.