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Digital Currency Group Says No Imminent Threat Despite Owing Genesis $575M

From decrypt.co

Amid concerns over the health and future of Digital Currency Group (DCG) following the collapse of crypto exchange FTX, company CEO Barry Silbert told shareholders of the crypto conglomerate that while it owes its own Genesis Trading arm $575 million, the firm aims to emerge "stronger" from the crypto winter. Silbert said in the letter to investors, according to The Wall Street Journal, that the $575 million worth of intercompany loans are due in May 2023, and that DCG took out the loans like any other crypto firm would, "structured on an arm's length basis and priced at prevailing market interest rates." Loan ... (full story)

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  • Category: Fundamental Analysis