Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit - CoinDesk

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Ian Allison is an award-winning elder newsman astatine CoinDesk. He holds ETH.

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Cryptocurrency conglomerate Digital Currency Group has informed its shareholders the steadfast is suspending dividends until further notice.

"In effect to the existent marketplace environment, DCG has been focused connected strengthening our equilibrium expanse by reducing operating expenses and preserving liquidity. As such, we person made the determination to suspend DCG's quarterly dividend organisation until further notice," DCG said successful a missive to shareholders sent connected Tuesday.

DCG, which owns CoinDesk and different crypto companies, has go embroiled successful the fiscal distress astatine its once-prolific lending level Genesis. DCG proprietor Barry Silbert has been locked successful negotiations with billionaire entrepreneurs Cameron and Tyler Winklevoss, whose crypto speech Gemini offered a lending merchandise that fell isolated due to the fact that Genesis, its partner, halted lawsuit withdrawals.

A spokeswoman for DCG did not respond to a petition for remark by property time.


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Ian Allison is an award-winning elder newsman astatine CoinDesk. He holds ETH.


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Ian Allison is an award-winning elder newsman astatine CoinDesk. He holds ETH.

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