Ankex, a cryptocurrency exchange launched by custody firm Qredo last year and led by former Genesis Trading CEO Michael Moro, has shut down amid a bear market. .
Moro has been at the helm of Ankex since the beginning of this year, a trading platform that combines a non-custodial decentralized finance (DeFi) approach with elements familiar to professional traders, such as a centralized limit order book. He seems to have left the company now, and his X (formerly Twitter) profile says:Formerly @GenesisTrading and @Ankexcom“a.
“Development on Ankex has been halted,” Qredo said in a message to the community. “Ankex was ready for a public beta release, as some tested it earlier this year. Unfortunately, we have had to pause at this stage.”
Following the collapse of FTX last year, it made sense for crypto exchange customers to want to keep their assets in their hands. Ankex may have been a victim of unfortunate timing as the crypto industry gradually emerges from a prolonged bear market.
Moro left Genesis in August 2022, before Genesis filed for bankruptcy protection.
The news was first reported by The Block.
｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Mr. Michael Moro. (Morgan Brown/Shutterstock/CoinDesk)
｜Original text: Qredo’s Ankex Crypto Exchange Shutters, CEO Michael Moro Leaves