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Digital Currency Group Likely to Sell Assets to Pay Off $3 Billion Debt
Summary: Digital Currency Group (DCG) is looking at selling some of its assets to help relieve its subsidary crypto lender Genesis of its $3 billion dollar debt, according to reports by the Financial Times. The venture capital company, which stopped withdrawals last year, is considering selling some of its venture-capital portfolio, which includes crypto exchanges such ...
Digital Currency Group (DCG) is looking at selling some of its assets to help relieve its subsidary crypto lender Genesis of its $3 billion dollar debt, according to reports by the Financial Times.
The venture capital company, which stopped withdrawals last year, is considering selling some of its venture-capital portfolio, which includes crypto exchanges such as Coinbase, Kraken, and Blockchain, and the now-bankrupt FTX.
DCG’s assets are illiquid, which means it may take some time to convert them into cash, according to the report.
Author: Katie Lin
Tags: crypto lender,DCG,debt,Digital Currency Group,Genesis,Portfolio,venture capital company,Withdrawals
Link: Digital Currency Group Likely to Sell Assets to Pay Off $3 Billion Debt [Copy]
