Giant Crypto Company Can’t Overcome Challenges: Big Sale Chance!

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Parent company of digital media platform CoinDesk Digital Currency Group (DCG) is trying to get through the hard times. Koinfinans.com As we have reported, DGC is considering selling some of the assets it holds in its portfolio.

According to the Wall Street Journal CoinDeskenlisted the help of investment bankers from financial consulting firm Lazard. These bankers will assist the company in assessing possibilities such as selling out in whole or in part.

It is spoken in the media that offers of more than $ 200 million have been received for the media platform belonging to Digital Currency Group. Considering that DCG bought the company in 2016 for $500,000, this would be a very profitable sale.

DCG Struggling to Find Funds

DCG, owned by Barry Silbert, is known to be facing some financial difficulties recently. The company informed its shareholders on January 17 that it would stop paying dividends in an effort to improve its balance sheet and “maintain liquidity”.

On January 18, Bloomberg reported that another DCG subsidiary, crypto lending firm Genesis It reported that Global was preparing to declare bankruptcy after admitting it owed more than $3 billion to creditors. This was probably a major component of DCG’s financial difficulties at the time.

According to the report, DCG’s venture capital portfolio includes more than 200 companies, including CoinDesk and Genesis. These companies are all linked to crypto. The company also owns asset management firm Grayscale Investments, cryptocurrency exchange Luno, and consulting firm Foundry.

CoinDesk, by many names, is the cause of the collapse of FTX and Alameda Research in November. As it will be remembered, the media platform made a report about the irregularities in question.

Sun, the name behind Tron, said recently that it is open to investing up to $1 billion in assets of the Digital Currency Group, subject to DCG’s consideration.


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