Digital Currency Group’s Genesis Subsidiary Close to Settling With Creditors, Appoints New CFO

08/01 01:16

Digital Currency Group (DCG) is reportedly close to reaching a settlement with the creditors of its subsidiary, Genesis, according to Bloomberg. DCG's second-quarter shareholder letter revealed that the company generated $216 million in revenue, but also reported a consolidated quarterly loss of around $79 million due to a one-time counterparty default at Genesis.
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