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)
Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit
Cryptocurrency conglomerate Digital Currency Group has informed its shareholders the firm is suspending dividends until further notice.
Justin Sun Says He’s Interested in Putting Up to $1 Billion for a DCG Asset Fire Sale
Justin Sun, founder of TRON Foundation, has revealed he is willing to spend up to $1 billion of his own money to buy assets of embattled cryptocurrency lender Genesis’ parent firm, Digital Currency Group (DCG).
Justin Sun Says He May Spend $1 Billion on DCG Assets
Justin Sun could spend $1 billion of his funds to buy assets belonging to Digital Currency Group, according to a report from Reuters on Jan. 13.
SEC Files “Totally Counterproductive” Charges Against Gemini and Genesis
The Genesis situation keeps getting worse.
DCG Scrambling To Raise Funds To Cover Genesis’ $3B Debt Burden
Embattled crypto lender Genesis owes over $3 billion to its creditors, the Financial Times reported on Jan. 12, citing sources familiar with the matter.
Troubled Crypto Lender Genesis Owes Creditors Over $3B
Troubled crypto lender Genesis owes its creditors over $3 billion prompting its parent company Digital Currency Group (DCG) to look at some asset sales to pay off the debt, the Financial Times reported on Thursday, citing sources.
DCG Fiasco Won’t Include Lots of Selling: Novogratz Comments on Crypto State
Crypto proponent and CEO of Galaxy Digital, Mike Novogratz, commented on the fiasco between two industry participants – Digital Currency Group (DCG) and Gemini – and how it will affect the entire market.
Cameron Winklevoss Calls for DCG Board to Sack Barry Silbert
Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, has written an open letter to the Digital Currency Board (DCG) board, asking for the removal of the venture capital firm's CEO Barry Silbert.
Bitvavo Rejects DCG’s 70% Repayment Proposal
Crypto exchange Bitvavo rejected Digital Currency Group’s (DCG) proposal to repay 70% of its debt because the embattled firm has sufficient funds to make full repayment, according to a Jan. 10 statement.
