Genesis, a troubled crypto lender, owes its creditors more than $3 billion, prompting its parent company, Digital Currency Group, to consider asset sales to pay off the debt, according to the Financial Times, citing sources. According to the report, DCG is considering selling some of its $500 million venture capital portfolio. The sale is part of DCG’s effort to raise new funds after Genesis ceased withdrawals late last year. Its portfolio includes crypto exchanges such as Coinbase (COIN), Kraken, and Blockchain.com, as well as the now-defunct FTX. However, DCG’s assets are illiquid and will likely take some time to sell, according to the report.
