DCG ព្យួរភាគលាភប្រចាំត្រីមាសចំពេលមានវិបត្តិលោកុប្បត្តិ៖ របាយការណ៍

Barry Silbert’s crypto conglomerate, Digital Currency Group (DCG), revealed halting quarterly dividends until further notice.

In an email to shareholders, as បានមើល by Bloomberg, the crypto investment firm said it is currently focused on “reducing operating expenses and preserving liquidity” in response to the current market environment.

Troubles for DCG

The FTX collapse exposed significant irregularities in Barry Silbert’s empire, with DCG at the receiving end of intense scrutiny. The venture capital firm owns several subsidiaries, including the world’s biggest digital asset manager, Grayscale, institutional lending company Genesis, and advisory company Foundry.

As a result of the financial distress, Genesis was forced to pause new loan originations and redemptions – a move that directly affected the Gemini Earn program. This subsequently escalated the battle with the co-founder of the crypto exchange, Cameron Winklevoss, who accused DCG of misrepresentation and accounting fraud and បានហៅ for Silbert to step down.

It was earlier reported that Genesis owes users of Winklevoss’ high-yield savings product Gemini Earn $900 million. DCG and Gemini earlier assured investors that the two companies have been trying to find a solution.

SEC Targets ‘Gemini Earn’ Program

While the fate of the customer funds stuck in the Gemini Earn program continued to hang in limbo, the fallout between the two executives led Gemini to terminate its master loan agreement with Genesis, thereby “officially” ceasing the program. This move requires Genesis to return outstanding assets.

A day later, the US Securities and Exchange Commission (SEC) ប្តឹង the two crypto firms for allegedly offering and selling unregistered securities to investors through the program. SEC Chair Gary Gensler stated,

“ការគិតថ្លៃថ្ងៃនេះបង្កើតលើសកម្មភាពពីមុន ដើម្បីបញ្ជាក់ឱ្យច្បាស់ទៅកាន់ទីផ្សារ និងសាធារណៈជនវិនិយោគថា វេទិកាផ្តល់ប្រាក់កម្ចីគ្រីបតូ និងអន្តរការីផ្សេងទៀតត្រូវអនុវត្តតាមច្បាប់មូលបត្រដែលបានសាកល្បងពេលវេលារបស់យើង។ ការធ្វើដូច្នេះល្អបំផុតការពារអ្នកវិនិយោគ។ វាលើកកម្ពស់ការជឿទុកចិត្តលើទីផ្សារ។ វាមិនមែនជាជម្រើសទេ។ វា​ជា​ច្បាប់»។

Overall, Genesis is currently swimming in an astonishing debt of $3 billion, and in a bid to repay some of its debt, DCG was looking to sell off the crypto broker’s venture capital portfolios. As such, a New-York headquartered global investment bank – Moelis – was ជួល។ to explore options to cover part of Genesis’ debt crisis. However, talks of fresh capital injection into the crypto lender appear to be off the table.