DCG May Dump As It Repays $1.5 billion Loan To Genesis

A drop in the value of DCG’s portfolio holdings has sparked industry conjecture since DCG-owned crypto lender Genesis Global Capital ceased redemptions.

According to Ran Neuner, CEO of Onchain Capital, DCG may be dumping as it seeks to repay a $1.5 billion debt to Genesis, or it may be on the verge of bankruptcy as its liquid assets run out.

Assets in the Digital Currency Group portfolio have suffered losses in the last 24 hours, sparking market speculation. It has been a month since the embattled crypto lender Genesis Global Capital, a Digital Currency Group subsidiary, ceased redemptions.

In particular, Messari DCG portfolio on 12/17 from Ran Neuner’s Tweet, has shown a significant decrease in Filecoin by 20% last 24 hours.

As Coincu previously reported, Bitvavo crypto exchange stated in the company blog that Digital Currency Group is experiencing liquidity problems and has suspended repayments.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

Coincu News