bitcoin
Bitcoin (BTC) $ 23,549.31
ethereum
Ethereum (ETH) $ 1,644.77
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 323.35
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.413005
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.092308
cardano
Cardano (ADA) $ 0.402178
solana
Solana (SOL) $ 24.46
matic-network
Polygon (MATIC) $ 1.19
polkadot
Polkadot (DOT) $ 6.71
tron
TRON (TRX) $ 0.064781
bitcoin
Bitcoin (BTC) $ 23,549.31
ethereum
Ethereum (ETH) $ 1,644.77
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 323.35
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.413005
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.092308
cardano
Cardano (ADA) $ 0.402178
solana
Solana (SOL) $ 24.46
matic-network
Polygon (MATIC) $ 1.19
polkadot
Polkadot (DOT) $ 6.71
tron
TRON (TRX) $ 0.064781
-8.7 C
Chicago
HomeCryptoDigital Foreign money Group Winding Down Wealth-Administration Division

Digital Foreign money Group Winding Down Wealth-Administration Division

Digital Foreign money Group (DCG), the crypto behemoth that such main crypto gamers Genesis and digital asset supervisor Grayscale, confirmed Thursday that it’s winding down HQ, its wealth administration division, in keeping with a report by The Info.  

DCG commented that the choice was made because of the appreciable financial turmoil and protracted crypto winter.

The subsidiary had roughly $3.5 billion in property beneath administration as of December, in keeping with the report. 

Monetary turbulence on the firm has been simmering since November when crypto change FTX filed for chapter. The black swan occasion despatched shockwaves all through the sector and put excessive stress on DCG, which owns Genesis World Buying and selling.

The latest information coincided with an open letter written by Cameron and Tyler Winklevoss, founders of cryptocurrency change Gemini, accusing DCG and Genesis of using “bad-faith stall techniques” to keep away from repaying their money owed. The 2 reportedly owe Gemini customers round $900 million.

Barry Silbert, CEO of DCG responded by denying these allegations whereas reasserting they’re in no hazard of going through money circulation issues or liquidity points.

Thursday’s developments could also be a sign DCG has critical cash bother looming.

CoinsTeacher

See also  BabyDoge Drastically Surpasses SHIB, Here is How

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Explore More

Related Articles