Hong Kong's leading crypto exchange Genesis Block halts trading amid FTX collapse

Asian Tech Press (Nov 18) -- Genesis Block, Hong Kong's leading cryptocurrency exchange, announced the cessation of trading amid the collapse of FTX.

Genesis Block said in an email to customers that it will shut down its over-the-counter trading portal on Dec. 10 as the widespread fallout from the collapse of FTX, as well as solvency issues at other major cryptocurrency firms, continue to plague the industry.

The company also asked customers to withdraw their funds and said it would not accept new clients, the emails showed.

Genesis Block ended its Hong Kong operations before FTX went bankrupt, according to three people familiar with the matter, and a Genesis Block official previously served as a director of FTX Hong Kong, but resigned as director this month.

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