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

CoinGeek LogoCoinGeek2 mo ago

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.


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Article Details

Author / Journalist: Steven Stradbrooke

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 12:00:03 (2 months ago)

News Timezone: GMT +8:00

Ranking: #471 (out of 2781 stories this day)

News Source URL: coingeek.com

Language: English

Article Length: 1790 words

Reading Time: 10 minutes read

Sentences: 65 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 1909211

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About CoinGeek

CoinGeek Logo

Main Topics: Crypto

Official Website: coingeek.com

Update Frequency: 4 posts per day

Year Established: 2012

Headquarters: Canada

News Last Updated: 10 hours ago

Coverage Areas: Canada

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #82

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The story "Digital Currency group under strain as Genesis teeters on edge of bankruptcy" was covered 2 months ago by CoinGeek, a news publisher based in Canada.

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