shareholder letter

Venture capital firm Digital Currency Group (DCG) has told shareholders it is halting its quarterly dividend payments until further notice as it attempts to preserve liquidity. According to the letter sent to shareholders on Jan. 17, the firm is focused on “strengthening our balance sheet by reducing operating expenses and preserving liquidity.” DCG said it was also considering selling some of the assets within its portfolio. Its financial issues are derived from the woes of a subsidiary, crypto broker Genesis Global Trading, which reportedly owes creditors more than $3 billion.  Customers are currently unable to withdraw funds from Genesis after it halted withdrawals on Nov. 16, which has prompted Cameron Winklevoss — on behalf of his exchange Gemini and its users with fund...