{"id":169755,"date":"2023-01-18T13:26:17","date_gmt":"2023-01-18T13:26:17","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169755"},"modified":"2023-01-18T13:26:17","modified_gmt":"2023-01-18T13:26:17","slug":"dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news\/","title":{"rendered":"DCG Suspends Dividends Amid Financial Crisis, Here\u2019s Who Might Bail Them Out! – Coinpedia Fintech News"},"content":{"rendered":"

The Digital Currency Group (DCG), a leading conglomerate in the cryptocurrency industry, has informed its shareholders that the company will not be distributing dividends until further notice. <\/p>\n

The Truth Behind The Suspension <\/strong><\/h2>\n

In a letter to shareholders, the company stated that its primary focus is on improving its balance sheet by reducing operational expenses and ensuring sufficient liquidity.<\/p>\n

Recently, DCG has been impacted by the prolonged downturn in digital assets and the fallout from the collapse of the FTX exchange. These events have had a negative effect on the broader cryptocurrency market. <\/p>\n

Furthermore, one of the company’s subsidiaries, Genesis Capital, has not been making reimbursements since November 2022 and has warned that it may become bankrupt without additional funding.<\/p>\n

The founder of DCG, Barry Silbert, is currently engaged in a contentious dispute with the Winklevoss brothers, who founded the Gemini cryptocurrency exchange. Customers of Gemini have been unable to access the $900 million in funds held with Genesis. <\/p>\n

The exchange and other creditors of Genesis have reportedly been holding secret meetings to devise a solution to the subsidiary’s financial difficulties. Additionally, Cameron Winklevoss has alleged that DCG owes Genesis $1.67 billion.<\/p>\n

Justin Sun Appears Interested <\/strong><\/h2>\n

In a recent development, Justin Sun, a prominent figure in the cryptocurrency industry, has announced that he is willing to use $1 billion of his own money to acquire assets from Digital Currency Group (DCG). According to Sun, he may pay that amount, based on DCG’s valuation.<\/p>\n

According to industry analysts, DCG, valued at around $10 billion in 2021, manages an estimated $50 billion in assets. <\/p>\n

On the other hand, Sun’s net worth is estimated to be between $250 million and $3 billion, depending on the method used and whether or not conventional assets are included. Therefore, any potential transaction would only involve a small portion of DCG’s assets.<\/p>\n

\"Photo
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The Digital Currency Group (DCG), a leading<\/p>\n","protected":false},"author":3,"featured_media":169754,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nDCG Suspends Dividends Amid Financial Crisis, Here\u2019s Who Might Bail Them Out! - Coinpedia Fintech News - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DCG Suspends Dividends Amid Financial Crisis, Here\u2019s Who Might Bail Them Out! - Coinpedia Fintech News - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The Digital Currency Group (DCG), a leading\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T13:26:17+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/01\/DCG-Suspends-Dividends-Amid-Financial-Crisis-Heres-Who-Might-Bail-Them-Out-Coinpedia-Fintech-News.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/dcg-suspends-dividends-amid-financial-crisis-heres-who-might-bail-them-out-coinpedia-fintech-news\/\",\"name\":\"DCG Suspends Dividends Amid Financial Crisis, Here\u2019s Who Might Bail Them Out! 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