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HomeGuidesBitvavo Steps In to Prefund Locked DCG Property Price $296.7 Million Amid...

Bitvavo Steps In to Prefund Locked DCG Property Price $296.7 Million Amid Liquidity Disaster

Amsterdam-based cryptocurrency trade Bitvavo has introduced that it’s going to prefund Digital Forex Group (DCG) belongings value $296.7 million to handle the present liquidity disaster. The belongings in query embrace investments in cryptocurrency firms and different digital belongings.

DCG, a number one enterprise capital agency within the cryptocurrency trade, lately introduced that it was going through liquidity points as a result of latest market downturn and the COVID-19 pandemic. In an announcement, Bitvavo CEO Marcel van der Heijden mentioned, β€œWe perceive the difficulties that DCG is going through and need to do our half to assist. By prefunding these belongings, we hope to offer some much-needed aid and help the long-term progress of the cryptocurrency trade.”

Bitvavo’s resolution to prefund the belongings comes as a shock to many within the trade, as the corporate has historically taken a cautious strategy to investing. Nonetheless, van der Heijden emphasised that the prefunding is a one-time exception and never a change in firm coverage.

The prefunding is anticipated to offer a much-needed enhance to DCG and the businesses it has invested in. It can additionally assist to revive confidence within the cryptocurrency market, which has been hit arduous by the latest financial downturn and the continuing pandemic.

Bitvavo’s transfer has been praised by trade specialists and analysts, who see it as an indication of solidarity and an illustration of the corporate’s dedication to the long-term progress of the cryptocurrency trade. β€œThis can be a nice instance of the resilience and innovation that the cryptocurrency trade is understood for,” mentioned Bitvavo CTO Martijn Siezen. β€œWe imagine that by coming collectively and supporting one another, we will climate any storm and emerge stronger on the opposite facet.”

See also  Ethereum and XRP Watch Intently as Bitcoin Reaches $18,000

General, Bitvavo’s resolution to prefund DCG belongings is a welcome growth for the cryptocurrency trade and an indication of hope for the longer term. Because the market continues to evolve and mature, it’s probably that we’ll see extra collaboration and help between trade gamers.

DISCLAIMER: The data supplied by WebsCrypto doesn’t characterize any funding suggestion. The articles printed on this web site solely characterize private opinions and don’t have anything to do with the official place of WebsCrypto.

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