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Digital Currency Group Halts Dividend Payment to Save Cash

  • Barry Silbert’s DCG empire under pressure after FTX collapse
  • Shareholder letter says quarterly dividend is being suspended
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Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it’s suspending quarterly dividends to preserve cash.

The move comes as the group focuses on “strengthening our balance sheet by reducing operating expenses and preserving liquidity,” according to a Jan. 17 letter to shareholders seen by Bloomberg News.