Bloomberg has reported that Digital Currency Group (DCG) is discontinuing its subsidiary, TradeBlock, due to the current unfavorable economic situation and the difficult regulatory environment for digital assets in the United States.
In January 2021, DCG subsidiary CoinDesk had acquired TradeBlock. While part of TradeBlock was integrated into CoinDesk itself, the remaining operations were spun out into a separate entity.
Prior to TradeBlock, DCG had dissolved its wealth management arm, HQ Digital, seeing it as a financial burden amid economic issues.
Currently, the company is dealing with legal entanglements related to its Genesis subsidiary’s lending unit that resulted in mounting debts to creditors.
