Digital Currency Group (DCG) is looking to refinance outstanding obligations with its bankrupt lending division Genesis and raise growth capital, the crypto conglomerate said on Tuesday.
Outstanding obligations can take the form of loans, receivables or any payments due between the two entities. The lending platform’s bankruptcy filings from January revealed DCG’s total debt to Genesis includes $575 million due this month, and a $1.1 billion promissory note due June 2032. CoinDesk reported in February that DCG, which is CoinDesk’s parent company, may have borrowed around $500 million in cash and as much as $100 million worth of bitcoin (BTC) from Genesis.
The move is meant to provide “further
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