Cointime

  • BTC $16807.04 -0.09 %
  • ETH $1231.91 -0.09 %
  • BCH $109.40 -0.09 %
  • SOL $13.45 -0.30 %
  • XRP $0.39 -0.03 %
  • BNB $284.40 -0.11 %

Digital Currency Group Reveals $2B in Liabilities, Including Debt to Its Own Subsidiary

1 min read Original Link

Digital Currency Group (DCG) currently has $2 billion worth of loans according to a letter sent to shareholders today.

In a shareholder letter sent to investors on Tuesday, Digital Currency Group CEO Barry Silbert outlined the state of the company’s lending situation.

Digital Currency Group revealed that it has borrowed $575 million from Genesis Global Capital, its own subsidiary. Silbert also revealed the existence of a $1.1 billion promissory note connected to the collapse of Three Arrows Capital. DCG also has a $350 million credit facility from a group of lenders led by Eldridge Industries.

All Comments