Digital Currency Group has announced it is halting dividends in an attempt to preserve liquidity, less than a week after it was reported its subsidiary Genesis owes creditors $3B.
Venture capital firm Digital Currency Group has told shareholders it is halting its quarterly dividend payments until further notice as it attempts to preserve liquidity.sent to shareholders on Jan. 17, the firm is focused on “strengthening our balance sheet by reducing operating expenses and preserving liquidity.”
Its financial issues are derived from the woes of its subsidiary, crypto broker Genesis Global Trading, which reportedlyand DCG is also considering selling some of the assets within its portfolio. Customers are currently unable to withdraw funds from Genesis after it halted withdrawals on Nov. 16, which has prompted Cameron Winklevoss — on behalf of his exchange Gemini and its users with funds on Genesis — to call for the board of DCG to
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