DCG completes $1b payoff of short-term loans, Genesis gets $700m
In a significant move towards financial stability, Digital Currency Group (DCG) announced that it completed the payoff of all short-term loans , totaling over $1 billion. Genesis received some $700 million of that sum. DCG — a major player in supporting emerging financial systems — plans to forge ahead as it pledges dedication to financial obligations. pic.twitter.com/dUEi8j7nHo — Digital Currency Group (@DCGco) January 5, 2024 You might also like: Genesis and 3AC reach $33m settlement in billion-dollar claim Last month, DCG founder Barry Silbert stepped down from the Grayscale board. The move preceded expectations of a decision on a spot Bitcoin ETF from the U.S. Securities and Exchange Commission (SEC). Silbert’s resignation, disclosed through a filing with the SEC, saw Mark Shifke assume the role of the new chairman. This change, along with appointments to the board, precedes legal challenges, including a $1 billion fraud lawsuit by New York Attorney G...