Digital Currency Group, a cryptocurrency conglomerate, has informed its shareholders that dividends will be suspended until further notice. “DCG has focused on strengthening our balance sheet in response to the current market environment by reducing operating expenses and preserving liquidity. As a result, we have decided to halt DCG’s quarterly dividend distribution until further notice “DCG stated in a shareholder letter sent on Tuesday. DCG, which owns CoinDesk and other cryptocurrency companies, has become embroiled in the financial woes of its once-thriving lending platform Genesis. Barry Silbert, the owner of DCG, has been in talks with billionaire entrepreneurs Cameron and Tyler Winklevoss, whose cryptocurrency exchange Gemini offered a lending product that fell through after Genesis, its partner, halted customer withdrawals.
