User Reviews

Regulation Analysis

Genesis Global Trading’s regulatory status has undergone significant changes following recent enforcement actions. The company was licensed by the New York Department of Financial Services (DFS) in 2018 to conduct virtual currency business activities through its BitLicense. However, in January 2024, DFS announced an $8 million settlement with Genesis after investigating compliance deficiencies. The investigation found that Genesis failed to maintain adequate Bank Secrecy Act/Anti-Money Laundering (BSA/AML) programs and had cybersecurity vulnerabilities that exposed the company and its customers to potential threats. As part of the settlement, Genesis agreed to surrender its BitLicense and cease operations in New York State. This regulatory action highlights significant compliance and operational control weaknesses in the company’s infrastructure. The surrender of the BitLicense removes an important regulatory oversight mechanism and may impact client protections. Traders should carefully consider these regulatory developments when evaluating Genesis as a trading partner.

Trading Products

• Digital Currency Trading: Comprehensive spot trading services for major cryptocurrencies with institutional-grade execution and deep liquidity pools
• Derivatives Trading: Sophisticated derivative products including futures and options on major digital assets
• Lending Services: Institutional lending facilities for digital assets with competitive rates and flexible terms
• Custody Solutions: Secure custody services for digital assets trusted by major institutional clients
• Prime Services: Full-service prime brokerage offering including trade execution, clearing, and settlement
• Post-Trade Solutions: Advanced trade allocation and settlement automation through the Trade Allocation Manager (TAM) platform

Trading Platforms

Genesis Global Trading provides institutional-grade trading infrastructure through its proprietary platforms. The Trade Allocation Manager (TAM) serves as a central, multi-asset class application automating post-trade operations including trade allocation, counterparty fee assignment, exchange fee calculations, FX conversions, and tax calculations. The platform features advanced automation capabilities for both simple and complex allocation processes, helping institutions reduce operational risks and accelerate trade settlement. The system offers multi-asset class support, real-time processing, and integration with major trading platforms. Additional features include customizable workflows, comprehensive reporting tools, and risk management capabilities. The platform emphasizes efficiency and risk reduction in middle and back-office operations, particularly suitable for institutional clients handling large trading volumes.

Deposit and Withdrawal

As an institutional-focused prime broker, Genesis Global Trading maintains sophisticated payment and settlement systems for large-scale transactions. The company supports institutional-grade wire transfers and digital asset transfers with proper compliance and security measures. Specific deposit and withdrawal requirements are tailored to institutional client needs, with dedicated relationship managers handling transaction processing. Settlement processes follow standard institutional protocols with proper documentation and verification requirements. Due to the institutional nature of services, minimum transaction sizes are typically substantial and require formal onboarding processes. The company emphasizes secure and compliant transfer mechanisms while maintaining proper documentation for regulatory compliance.

Customer Support

Genesis Global Trading provides institutional-level support services through dedicated relationship managers and specialized teams. Support is primarily focused on institutional clients with sophisticated trading and operational needs. The company maintains professional support staff knowledgeable in complex trading operations, settlement processes, and technical infrastructure. Support services include trade execution assistance, post-trade processing help, and technical platform support. Recent regulatory findings suggest some operational control weaknesses that may impact support quality. Response times and support effectiveness may vary based on client tier and relationship status. The institutional focus means retail-level support services are limited.

FAQ

Q: What services does Genesis Global Trading provide?
A: Genesis operates as a full-service digital currency prime broker offering comprehensive trading, derivatives, borrowing, lending, and custody solutions for institutional clients. The platform facilitates billions in monthly transactions through sophisticated trading infrastructure and deep liquidity pools. Services include spot trading, derivatives trading, institutional lending, secure custody, and advanced post-trade processing through their Trade Allocation Manager (TAM) platform.

Q: What is the current regulatory status of Genesis Global Trading?
A: As of January 2024, Genesis has surrendered its New York BitLicense and agreed to pay an $8 million penalty following regulatory investigations. The New York Department of Financial Services found deficiencies in the company’s BSA/AML compliance programs and cybersecurity measures. The company is ceasing operations in New York State as part of the regulatory settlement.

Q: What is the Trade Allocation Manager (TAM) platform?
A: The Trade Allocation Manager is Genesis’s proprietary post-trade automation system that handles trade allocation, fee calculations, and settlement processes. It provides multi-asset class support, automated workflows, and risk management capabilities designed to improve operational efficiency and reduce risks in middle and back-office operations.