Digital Currency group under strain as Genesis teeters on edge of bankruptcy

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Digital Currency group under strain as Genesis teeters on edge of bankruptcy - CoinGeek

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The post Digital Currency group under strain as Genesis teeters on edge of bankruptcy appeared first on CoinGeek.

Despite these significant liabilities, Silbert boldly declared that DCG had “weathered previous crypto winters and while this one may feel more severe, collectively we will come through it stronger.” Silbert noted that DCG was on track to generate $800 million in revenue this year, neglecting to add that this was one-fifth below 2021’s revenue.

On Monday, Genesis issued a statement that it had “no plans to file bankruptcy imminently” but the very next day the New York Times reported that Genesis had hired “restructuring adviser” Moelis & Company to examine all possible scenarios, including bankruptcy.