Digital Currency Group (DCG), a giant investor in the cryptocurrency industry, is preparing to divest its assets to finance over $3 billion in debts of its subsidiary, crypto lending platform Genesis.
of the Financial Times January 12 According to the news dated , Genesis’s creditors in total 3 billion dollars It turned out that he had a debt exceeding can be financed parent company DCG stepped in. Sources, DCG’s approx. 35 such as stock exchanges, banks and custody service providers in the country. 200 projects owning approximately half a billion a dollar worth venture capital He said he plans to dispose of it.
Within the assets of the said venture capital firm of DCG, the crypto lottery application jackpot, an NFT company WENEW, customizable Ethereum (ETH) wallet provider Raindow, Coinbase, Kraken, Blockchain.com, Silvergate and of the circle was among the information given by the sources. Approximate assets 500 million It is estimated to be worth $.
On the other hand, Genesis’ Gemini “Earn” to customers 900 million dollar, a Dutch cryptocurrency exchange $302.4 million to Bitvavo also crypto deposit company Donut’s to its customers some amount has debt. All debts of the company and the name of the creditors not officially announced.