Reuters: Genesis Block has suspended trading, and its executives previously served as directors of FTX Hong Kong

2022-11-18 17:52:29

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ChainCatcher news, Hong Kong-based cryptocurrency trading platform Genesis Block (Note: Genesis Block previously operated one of Asia's largest Bitcoin ATM networks and is not related to Genesis Global Capital) has informed its clients that due to the widespread impact of the FTX collapse, Genesis Block has suspended trading and will close its over-the-counter trading website on December 10. The company has also requested clients to withdraw their funds and will not accept new clients. According to three informed sources, Genesis Block had already ceased its Hong Kong operations even before FTX's bankruptcy and cut ties with FTX earlier this month.

One insider stated that one of the executives at Genesis Block had previously served as a director of FTX Hong Kong but resigned from the board this month. FTX Hong Kong is one of approximately 130 FTX affiliates supported by Sam Bankman-Fried, which have filed for Chapter 11 bankruptcy in the United States. (Reuters）

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