24 exchange a trading platform that secured 14 million in funding in late 2021 which included support from point72 ventures led by steve cohen has decided to discontinue its spot cryptocurrency product this comes as global regulators intensify their scrutiny of cryptocurrencies the bermudabased exchange which was founded in 2018 and commenced operations in 2019 initially enjoyed robust support for its crypto trading product however the company’s chief executive officer dmitri galinov told bloomberg that there was a decline in interest and demand following the collapse of ftx fttusd and cryptoaffiliated entities such as signature bank sbny and silvergate capital corp si while 24 exchange has made the decision to discontinue its spot crypto product it wont be doing the same for another key offering galinov stated the trading venue will still offer its crypto nondeliverable forward product to clients seeking to hedge their digitalasset exposure prior to this 24 exchange which primarily caters to banking and other institutional clients had sought approval from the us securities and exchange commission sec to offer roundtheclock trading in equities the exchange had intended to enable customers to trade equities in increments as small as one onethousandth of a share “anyone who wants to trade crypto 247 would also like to trade apple or microsoft 247” however the company’s plans met with delays and according to galinov they ran out of time 24 exchange now aims to resubmit its application to the sec for 247 equities trading by the end of summer read next bitgo calls off prime trust acquisition in the crypto custody space join benzingas future of crypto in nyc on nov 14 2023 to stay updated on trends like ai regulations sec actions  institutional adoption in the crypto space secure early bird discounted tickets now