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Saturday, February 24, 2024
More
    bitcoin
    Bitcoin (BTC) $ 50,785.61
    ethereum
    Ethereum (ETH) $ 2,926.81
    tether
    Tether (USDT) $ 1.00
    bnb
    BNB (BNB) $ 375.88
    usd-coin
    USDC (USDC) $ 1.00
    xrp
    XRP (XRP) $ 0.534817
    binance-usd
    BUSD (BUSD) $ 1.00
    dogecoin
    Dogecoin (DOGE) $ 0.084872
    cardano
    Cardano (ADA) $ 0.583685
    solana
    Solana (SOL) $ 99.89
    matic-network
    Polygon (MATIC) $ 0.99346
    polkadot
    Polkadot (DOT) $ 7.61
    tron
    TRON (TRX) $ 0.138263

    DCG says it accomplished payoff of all short-term loans from Genesis

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    Digital Foreign money Group stated Friday that it had paid off all short-term loans to institutional investor crypto dealer Genesis.

    “DCG is happy to announce that we have now accomplished a payoff of all short-term loans from Genesis,” the agency wrote. “In whole, DCG has paid off greater than $1 billion of debt to its collectors in simply over a yr, together with practically $700 million to Genesis, satisfying all obligations at the moment due. With this milestone behind us, we’re wanting ahead to the subsequent chapter of DCG and the long run progress of our trade.”

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    I’m blissful to share that DCG accomplished a full pay down of the cash borrowed from Genesis,” DCG’s founder and CEO Barry Silbert stated on X, including that “regardless of the headwinds confronted by the trade I am excited concerning the trade’s subsequent chapter and DCG’s management function in it.”

    Monetary troubles

    DCG is the mother or father agency to Genesis, which had confronted monetary troubles following the collapse of Sam Bankman-Fried’s crypto alternate FTX. In November 2022, DCG took on Genesis’s debt of round $1 billion.

    Genesis filed for Chapter 11 chapter safety in January 2023. The agency owes its prime 50 collectors round $3.6 billion, The Block beforehand reported.

    See also  Fee Executives Are Eyeing Blockchain B2B Funds: Ripple Survey
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