Express

Digital Currency Group Suspends Dividends Amid Financial Crisis at Genesis

Tris Bell

Summary: Cryptocurrency conglomerate Digital Currency Group (DCG) said in a letter to shareholders on Tuesday that it is temporarily suspending dividends in order to preserve cash. The move comes amid the financial turmoil of its subsidiary crypto lender Genesis. Genesis halted withdrawals in November and laid off 30% of its workers earlier this month. The crypto ...

Cryptocurrency conglomerate Digital Currency Group (DCG) said in a letter to shareholders on Tuesday that it is temporarily suspending dividends in order to preserve cash.

The move comes amid the financial turmoil of its subsidiary crypto lender Genesis. Genesis halted withdrawals in November and laid off 30% of its workers earlier this month. The crypto lender is currently in $3 billion worth of debt.

DCG has yet to disclose when it will resume dividends.

Author: Tris Bell

  • Mainnet Web3+AI Party Set to Illuminate New York City on September 20th 4 days ago
  • ARK Invest Acquires Rize ETF, Paving the Way for European Expansion 4 days ago
  • Balancer's Front-End Suffers Attack Resulting in $238,000 Loss 4 days ago
  • 【The Road to Innovation in Cryptocurrency】DAI's stumbling road of exploration 4 days ago
  • Could Crypto ETFs Catalyze the Next Bull Market? 10 days ago
  • You need to login to comment.