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Genesis Owner DCG Suspends Dividend Payouts

Digital Currency Group (DCG) has discontinued dividend payments, according to the letter sent by the company to its shareholders on Jan. 17. The company said in its letter that it has “made the decision to suspend [its] quarterly dividend distribution until further notice.” It is unclear whether those dividends were previously paid from the company’s general earnings or its crypto profits. DCG cited its ongoing efforts to reduce operating costs and preserve liquidity during the poor crypto market as its reason for ending dividend payouts. DCG has not publicly announced that it will discontinue dividends. The news was reported by DCG subsidiary CoinDesk, who obtained a shareholder letter copy. The company’s ongoing financial difficulties were already publicly known. (cryptoslate)

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