Looking for a new job? Register for your Candidate profile today - Sign Up here

DCG's Institutional Trading Platform, TradeBlock, To Be Shut Down

The CJ Summary...

DCG's institutional trading platform, TradeBlock, will be shutting down its operations starting May 31. The decision to wind down the platform's services was primarily driven by the current harsh crypto market and tightening of US regulations. Despite being acquired by Coindesk earlier this year, the closure of TradeBlock is inevitable.

TradeBlock has been a reputable institutional trading platform for several years, providing its users with a range of services that include market data, trade execution, and post-trade processing. However, the ongoing market volatility, coupled with the increasing regulatory headwinds, has made it increasingly challenging for the platform to continue operating sustainably.

While TradeBlock's closure may come as a surprise to some, it highlights the extent of the challenges that institutional trading platforms face in the crypto industry. The lack of regulatory clarity in the space has made it difficult for these platforms to operate smoothly, particularly in jurisdictions such as the US, where regulatory scrutiny is high.

That said, TradeBlock's closure does not necessarily spell doom for the institutional trading landscape in the crypto industry. There are several other platforms in the space that continue to operate successfully, including LMAX Digital and Genesis Trading.

Ultimately, TradeBlock's closure serves as a reminder of the importance of regulatory clarity in the crypto industry and the challenges that companies face in navigating a rapidly evolving landscape. While the industry has made significant progress in recent years, there is still much work to be done to ensure that institutional trading platforms can operate sustainably and effectively.

The platform will close services on 31 May. Coindesk acquired TradeBlock in 2021 for an undisclosed sum.

Digital Currency Group (DCG) will close its institutional trading platform TradeBlock on May 31 due to the harsh market and tightening of US regulatory policies.

Digital Currency Group (DCG) will close its institutional trading platform, TradeBlock, by the end of the month, Bloomberg reported May 25. Crypto market challenges DCG's decision to close TradeBlock comes amidst a harsh crypto market.

Starting from May 31, TradeBlock will commence the official procedure of winding down its operations.

TradeBlock, a subsidiary of Digital Currency Group, is closing down, according to Bloomberg.

Top 5 Crypto Companies

We've ranked our most popular companies for you. Check out their amazing jobs right now!

1. 21Shares Jobs

2. BitGo Jobs

3. Casa Jobs

4. AAVE Jobs

5. Polygon Jobs