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Jan 12 (Reuters) – Cryptocurrency broker Genesis owes creditors more than $3 billion, a person familiar with the matter told Reuters.
The Financial Times reported on Thursday that DCG is considering selling some of its venture capital holdings to raise money. DCG’s portfolio includes 200 crypto-related projects, including exchanges, banks and custodians in at least 35 countries, worth around $500 million, the report added.
Genesis declined to comment. DCG did not immediately respond to requests for comment.
Several cryptocurrency firms have come under pressure recently as they try to navigate the unprecedented industry-wide turmoil as investor appetite for digital assets wanes after major exchange FTX exploded late last year. .
Earlier this month, Genesis, which brokers digital assets for financial institutions such as hedge funds and asset managers, laid off a second round of layoffs in less than six months, cutting 30% of its workforce, according to people familiar with the matter. reduced.
Meanwhile, its parent company DCG has asked Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, to fire DCG CEO Barry Silbert amid high-profile executive tensions. I received a call.
Based in Stamford, Connecticut, DCG is also the parent company of several prominent crypto companies, including crypto asset manager Grayscale.
Reporting by Manya Saini of Bengaluru and Hannah Lang of Washington. Additional reporting by Elizabeth Howcroft of London. Editing by Shounak Dasgupta, Shailesh Kuber and Conor Humphries
Our Standards: Thomson Reuters Trust Principles.
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