Key Points:
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.
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
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.
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. |
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