The digital currency group (DCG), a cryptocurrency investment firm, is facing difficult times as two of its four primary subsidiaries are reportedly undergoing changes.
Genesis, a lending platform under DCG’s umbrella, is said to be filing for Chapter 11 bankruptcy. This news comes as another subsidiary of DCG, Coindesk, is also reportedly up for sale. It is rumored to be up for sale as a way to raise funds.
DCG is a venture capital firm that invests in and supports cryptocurrency and blockchain technology companies. It is a major player in the crypto industry, having invested in a number of high-profile companies, including Coinbase and Kraken. The bankruptcy of Genesis and the potential sale of Coindesk is a shock to the crypto community and may indicate a shift in the industry.
The future of the remaining two subsidiaries, Grayscale and Foundry, are now uncertain. This news marks the decline of DCG, which was once a prominent player in the crypto industry.
However, entrepreneur and investor, Peter Thiel, has recently been making headlines for his involvement in Bitcoin and other cryptocurrencies, despite reportedly selling his holdings. Peter Thiel dumps his holdings as he talks up Bitcoin and crypto
●▬▬▬▬▬▬▬▬DISCLAIMER▬▬▬▬▬▬▬▬▬●
#BITCOIN #ETHEREUM #CRYPTO #CARDANO
***NOT FINANCIAL, LEGAL, OR TAX ADVICE!
