DCG suspends quarterly dividends to preserve cash as Genesis lending unit tries to avoid bankruptcy, report says
DCG has invested in more than 200 blockchain-related startups in at least 35 countries. Investments are worth around $500 million, sourced told the FT.
DCG also trimmed its workforce last year by 10%, amid the broader collapse of cryptocurrencies that was further exacerbated by the collapse of FTX. DCG's empire also includes the digital asset fund Grayscale Investment LLC, which oversees the Grayscale Bitcoin Trust, as well as crypto news outlet CoinDesk.
US authorities are also investigating DCG's internal financial practices, Bloomberg said. Silbert has attempted to calm investor concerns in recent months, and said earlier this month in a letter that he thinks"DCG will emerge from this year a stronger company than ever before."
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