DCG, the parent company of Genesis, has closed its Wealth Division Amid Liquidity Difficulties
- Akansha Gupta
- January 6, 2023
- Defi, Crypto, News
- 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.