Digital Currency Group (DCG), the parent company of CoinDesk, is shutting down its institutional trading platform TradeBlock due to the prolonged crypto winter and regulatory uncertainties in the US. The closure will take effect on May 31, 2023.

CoinDesk will retain the index data business from the acquisition, which was rebranded as CoinDesk Indices. This decision comes after DCG's subsidiary Genesis Global Holdco filed for bankruptcy and DCG missed a $630 million debt payment owed to Genesis, resulting in a loss of $1.1 billion in 2022.