Digital Currency Group (DCG), the giant investor of the crypto money market, reported a loss of $ 1.1 billion in 2022 due to the bankruptcy of its subsidiary Genesis and the decline in the crypto money market.
In the news published on February 27, Coindesk stated that DCG’s financial reports for the 4th quarter of 2022 will be in 2022. 1.1 billion He stated that he had reported losses in dollars. According to the information given, DCG is mostly responsible for the damage. From falling cryptocurrency prices, including Bitcoin (BTC) and in-house crypto loan platform From the Genesis remake announced that it was sourced.
The loss was due to the impact of the Three Arrows Capital bankruptcy on Genesis and falling cryptocurrency prices.
The report states that by the end of 2022 DCG’s 5.3 billion It turned out to be worth $. your assets 262 million your dollar cash or from cash equivalents while it appears digital assets, Grayscale shares, startups And fund investments including 670 million dollars of investment assets declared to match. The company owns most of the remaining assets. grayscale And foundry stated that it includes assets held by
According to the information given, the loss of the company in the 4th quarter 24 million while the dollar net income 143 recorded in millions of dollars. of DCG 2022 pertaining to the year your net income whereas 719 million It turned out to be a dollar. made independent One valuation the company’s share valuation 2.2 billion in dollars, this value per share 27.93 It was announced that it reflects an amount of dollars.
DCG spokespersons made a statement on the subject, investment assets And of the venture portfolio of the value daily aspect has been updated stated. Also, Genesis restructuring experienced in 2022 in relation to to difficulties although a new acre that the point has been reached. The report will continue on the restructuring plan several months of negotiations to last expected was also translated.