Digital Currency Group Pulls the Plug on its Institutional Trading Platform

TradeBlock’s shutdown was reportedly prompted by a prolonged crypto market downturn and challenging US regulatory environment

article-image

T. Schneider/Shutterstock, modified by Blockworks

share

Digital Currency Group, the parent company of crypto lender Genesis, is shutting down TradeBlock, its trading platform that catered to institutional clients, on May 31.

The decision to sunset the trading platform was made due to overall economic conditions, an extended crypto winter and the complex regulatory landscape surrounding digital assets in the US, Bloomberg reported, citing a DCG spokesperson. 

Blockworks has reached out for comment.

In early 2021, CoinDesk, a subsidiary of DCG, acquired TradeBlock to leverage its reference rates, trading tools, and workflow systems. CoinDesk integrated the indexing business and spun out the remaining operations as the TradeBlock trading platform.

TradeBlock’s platform was designed with a focus on APIs, allowing institutions to simplify their crypto asset trading workflows. It offered solutions for pre-trade activities, trade execution and post-trade processes.

Digital Currency Group (DCG), a company that owns various prominent crypto firms, has been embroiled in controversy recently. The company’s transactions were said to be under scrutiny, and some of its subsidiaries seem to be facing difficulties.

Genesis officially filed for bankruptcy protection along with its subsidiaries in January after freezing withdrawals a few months earlier.

In a separate instance, Gemini co-founder Cameron Winklevoss urged DCG’s board to oust Silbert, making fraud allegations against DCG and its portfolio company Genesis. The allegations included making false statements and misrepresentations regarding Genesis’s solvency and financial well-being.

DCG failed to fulfill its $630 million debt obligation to Gemini, last week, prompting Gemini to grant DCG 30 days to come up with the funds during mediation.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (3).png

Research

Pear Protocol has proven its market fit through its pair-trading infrastructure, sustaining consistent trading activity despite recent headwinds. Its strategic pivot toward Hyperliquid integration represents a major growth catalyst amid industry consolidation. While short-term token unlocks present challenges, current valuations and liquidity conditions may offer compelling opportunities for investors.

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors

article-image

The ETH products have notched $3.6 billion of net inflows from July 1 to July 22, Farside Investors data shows

article-image

With these levies, it’s cheaper for Japanese manufacturers to send cars to the US than it is for domestic makers to import parts from other countries