DCG plans to sell assets to help Genesis
The Financial Times reported on Thursday that Digital Currency Group might be selling off some of its venture portfolio assets to generate enough funds for Genesis, their wholly-owned subsidiary, to cover a staggering $3 billion deficit. DCG’s large portfolio of investments in the crypto space, with stakes in more than 200 projects such as Dune […]
Genesis CEO asks for more time as its parent company DCG faces intense pressure
The CEO of Genesis, a crypto broker, has requested more time to address the current issues with its lending unit as DCG (Digital Currency Group), its parent company, faces mounting strain. After FTX experienced a crash, Genesis decided to pause withdrawals in November. However, this left Gemini Earn with an alarming $900 million owed by […]
Gemini: Winklevoss led exchange planning to lay off 10% of staff
Various companies are struggling with the changing market situation. Gemini is one of those exchanges which have continued to face problems due to lowered business. The impacts of the market changes are evident from lowering market shares and lowered influx of funds. The changes have impacted bigger exchanges like Binance, which are looking for secure […]
