Blockchain investment behemoth Digital Currency Group (DCG) has paid off all of its short-term debts as of June. This is according to a quarterly shareholder letter the business sent out this week. Thanks in large part to a stellar performance during the first half of the year, the firm was
A $2 billion settlement has been reached between the New York State Attorney General’s office and Genesis Global Holdco. Prolonged discussions stemming from allegations of misrepresenting Genesis-related financial activities led to this conclusion. Genesis is now in the bankruptcy process, therefore the deal must be accepted by a bankruptcy court.
The company’s revenue reached $210M in the Q4 of 2023, a 59% rise in comparison to the same time the previous year, Digital Currency Group (DCG) said Monday in a letter to shareholders. The parent business of Grayscale Investments attributed the increase in revenue on rising asset values, especially bitcoin.
The short-term loans that Digital Currency Group (DCG) had with the now-defunct Genesis crypto lending platform have all been paid off, according to the venture capital company. On January 6th, DCG verified in a statement posted on X (formerly Twitter) that it had paid all of its debts, including almost
The U.S. authorities said in a filing on Wednesday that a revised bankruptcy plan submitted by cryptocurrency lender Genesis last week marks a substantial change of intentions. Instead of reorganizing, the lender is now trying to sell off its assets. The filing by U.S. Trustee William Harrington said that the
According to a court filing made on August 29th, the Digital Currency Group (DCG) and insolvent cryptocurrency lender Genesis have reached an in-principle agreement to settle the claims of the creditors. With a severe liquidity problem ensued with the demise of cryptocurrency exchange FTX. Genesis filed for Chapter 11 bankruptcy
Cameron Winklevoss, the co-founder of Gemini, has declared that he has sued the Digital Currency Group (DCG) and its CEO, Barry Silbert, in his personal capacity. The complaint claimed that DCG and Silbert defrauded creditors by keeping their money. This comes after Winklevoss, earlier this week, made the last offer
In an open letter, Gemini’s co-founder and president Cameron Winklevoss issued a 3-day deadline to Digital Currency Group’s (the parent company of defunct cryptocurrency lender Genesis) founder and CEO Barry Silbert. The president of Gemini has threatened legal action if Silbert and DCG do not accept the modified offer by
Digital Currency Group (DCG), a venture capital firm, has decided to shut down its main brokerage subsidiary TradeBlock due to the general economic climate and the ambiguity surrounding crypto regulation in the United States. Led by Breanne Madigan, TradeBlock will reportedly begin winding down operations on May 31st. A company
In an effort to preserve liquidity, venture capital company Digital Currency Group (DCG) has informed its shareholders that it would not be paying out its quarterly dividends until further notice. In a letter to shareholders dated January 17th. The company stated its intention on “strengthening our balance sheet by reducing
