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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

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Link: Digital Currency Group Suspends Dividends Amid Financial Crisis at Genesis   [Copy]
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