Steve Cohen-Backed 24 Exchange Shuts Down Spot Crypto Product Citing Weak Demand
- The exchange will continue to support a crypto NDF product
- Exchange will reapply for license to trade equities 24/7: CEO
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A trading platform that raised millions of dollars in a round backed by Steve Cohen’s Point72 Ventures is shutting down one of its digital-asset offerings.
24 Exchange raised $14 million in late 2021, partly on the strength of its enthusiasm for crypto. Now, with regulators around the world cracking down on the asset class, the company is retiring its spot crypto product.