Digital Currency Group (DCG) closes TradeBlock

Digital Currency Group (DCG), the parent company of CoinDesk is closing its trade execution and prime brokerage unit, TradeBlockciting cryptozyme and regulatory uncertainties. The shutdown of the unit, which provides trading services to institutional investors, will be effective May 31, a DCG spokesperson told CoinDesk. TradeBlock was acquired in 2020 by CoinDesk and later established as its own separate business. CoinDesk kept the index data running from the transaction, which was renamed CoinDesk Indices, and “it turned out to be a successful acquisition,” a spokesperson said. Bloomberg was the first to report on the story.