Cboe acquired crypto firm ErisX in late 2021 and formed a new division Cboe Digital. Yesterday Cboe announced plans to shutter crypto spot trading and roll the derivatives trading and clearing into its main business, citing regulatory uncertainty around digital assets.
The spot trading arm only supports four coins, but one of them is Ether which the SEC now considers to be a security.
In reality the entire business is tiny compared to the rest of the company but its overheads are not. It expects savings of $2m-$4m this year and $11-$15m on a normalized annual basis.
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