Genesis Global Capital, a subsidiary of Digital Currency Group (DCG) is reportedly preparing to file for bankruptcy as soon as this week.
This crypto lending company halted withdrawals in November 2022 due to the collapse of FTX and has been trying to raise funds to maintain liquidity.
The CEO of DCG, Barry Silbert, is involved in a public feud with Cameron Winklevoss, the co-founder and President of Gemini and the customers of Winklevoss are reportedly owed over $900 million as part of Gemini’s Earn Program.
Digital Currency Group has announced that it will be suspending its quarterly dividends to preserve cash following liquidity issues with its subsidiaries.
