DCG to Close Institutional Trading Platform TradeBlock

Digital Currency Group (DCG), a digital asset group in negotiating with creditors of its bankrupt lending business, will close down its TradeBlock subsidiary, which provides trade execution, pricing and bulk brokerage services to institutional investors, on May 31st, Bloomberg reports.

Previously, DCG's cryptocurrency media and events company CoinDesk Inc. purchased TradeBlock in 2020 in a deal with undisclosed financial details. CoinDesk merged the indexing business into its own business, and the rest of the business was later spun out as the TradeBlock trading platform.