News

DCG Revenue Ups 59% YoY, Hits $210M In Q4 2023: Report

Key Points:

  • Digital Currency Group’s Q4 revenue surged 59% to $210 million year-on-year.
  • The company’s growth is tied to the crypto market, boosted by the launch of the first US Bitcoin ETFs.
  • Despite its crypto lending division filing for bankruptcy, DCG’s investment portfolio was valued at about $975 million at the end of 2023.
DCG revenue ups 59% to $210M in Q4 2023, tied to the crypto market’s performance and the launch of US Bitcoin ETFs.
DCG Revenue Ups 59% YoY, Hits $210M In Q4 2023: Report

Digital Currency Group (DCG), the parent company of Grayscale Investments which manages the largest Bitcoin fund globally, reported a significant revenue increase in Q4 of last year.

DCG Revenue Ups 59% YoY to $210M

According to Bloomberg, DCG’s revenue surged 59% to $210 million compared to $132 million during the same period the previous year. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $99 million.

The company’s growth is largely tied to the crypto market’s performance, which has more than doubled since the beginning of last year. The launch of the first US Bitcoin ETFs, nine of which began trading on January 11, has been a significant contributor to the rise in Bitcoin and, in turn, DCG’s revenues.

Readmore: DCG Short-term Loans With Genesis Over $1 Billion Now Paid

DCG’s Investment Portfolio Valued at $975 Million

Although DCG’s crypto lending division Genesis filed for bankruptcy a year ago, the company’s investment portfolio was valued at approximately $975 million at the end of 2023, including tokens, Grayscale Trust shares, venture capital and fund investments, and equities.

On 5 January, CoinCu reported that Digital Currency Group (DCG) has successfully settled all outstanding short-term loans owed by its cryptocurrency lending subsidiary, Genesis, according to an official announcement.

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Swift, UBS, Chainlink Complete Pilot for Global Tokenized Fund Settlement Network

Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…

14 mins ago

Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire

19 mins ago

Jito and Solana Outpace Ethereum in 24-Hour Fee Revenue

According to data from SolanaFloor, Jito and Solana's 24-hour protocol fee income has surpassed Ethereum's…

51 mins ago

Which 3 Altcoins Will Skyrocket the Most in the Next Big Bitcoin Rally?

As the crypto market is about to witness the next big Bitcoin surge, Rexas Finance,…

1 hour ago

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

2 hours ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

2 hours ago

This website uses cookies.