{"id":72705,"date":"2023-01-18T13:26:10","date_gmt":"2023-01-18T11:26:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72705"},"modified":"2025-09-09T09:51:14","modified_gmt":"2025-09-09T06:51:14","slug":"digital-currency-group-halts-quarterly-dividend-payments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/digital-currency-group-halts-quarterly-dividend-payments\/","title":{"rendered":"Digital Currency Group halts quarterly dividend payments"},"content":{"rendered":"

Facing financial difficulties after the collapse of FTX<\/a> the holding DCG<\/span> said it would suspend quarterly dividend payments. Bloomberg<\/a> reports.<\/p>\n

The group said it would focus on “strengthening the balance sheet by cutting operating costs and preserving liquidity”, according to a letter to shareholders.<\/p>\n

The move comes as Genesis Global Capital, the crypto-lending platform, faces difficulties. The latter owes $3 billion<\/a>, according to media reports. This amount includes claims by Gemini exchange customers for $900 million<\/a>.<\/p>\n

Genesis co-founder Cameron Winklevoss, in another open letter , urged<\/a> DCG chief Barry Silbert to step down. The public dispute has heightened fears that Genesis could file for bankruptcy.<\/p>\n

In November, the platform did not rule out<\/a> this scenario in an attempt to raise financing<\/a>. The move raised concerns about the resilience of parent DCG<\/a> and the future of GBTC<\/span><\/a>.<\/p>\n

In early 2023 <\/strong>Digital Currency Group <\/strong>announced the closure<\/a> of its asset-management subsidiary HQ Digital. Genesis Trading cut 30% of its staff.<\/p>\n

Bloomberg reported in January that the SEC<\/span> and the U.S. Department of Justice began examining the nature of Digital Currency Group’s interactions with Genesis Global Capital.<\/p>\n

Follow ForkLog’s bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The DCG holding, facing financial difficulties after the collapse of FTX, said it would suspend quarterly dividend payments. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":72706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,184],"class_list":["post-72705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-dcg"],"aioseo_notices":[],"amp_enabled":true,"views":"62","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72705"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72705\/revisions"}],"predecessor-version":[{"id":72707,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72705\/revisions\/72707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72706"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}