DCG, the parent company of Genesis, has closed its Wealth Division Amid Liquidity Difficulties - Blockscroll

DCG, the parent company of Genesis, has closed its Wealth Division Amid Liquidity Difficulties

DCG, the parent company of Genesis, has closed its Wealth Division Amid Liquidity Difficulties

Brandon Davis
January 6, 2023
Defi, Crypto, News
0 Comments

Genesis Global-parent firm DCG decided to close its wealth unit.

Following the bankruptcy of the crypto exchange FTX, the Digital Currency Group has faced major issues for some of its leading subsidiaries.

Last month, the lending unit of DCG subsidiary Genesis Global declared a temporary halt to withdrawals due to a severe liquidity crisis.

Genesis Global had laid off 30% of its employees hours before the news.

BREAKING: Genesis parent company Digital Currency Group just shut down its $3.5 billion wealth management division, per the Information.
— unusual_whales (@unusual_whales) January 5, 2023

https://twitter.com/WhaleCoinTalk/status/1611151069819686915

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