Due to the recent publication of the minutes from the Federal Open Market Committee (FOMC), the market has remained volatile, with Bitcoin prices continuing to trade at around $17,000. The initial level of support for Bitcoin at $16,800, while the first levels of resistance for Bitcoin can be found between $16,900 and $17,000.
Will DCG File for Bankruptcy?
In November, Genesis Global Capital stopped approving new loans and accepted redemptions of their existing debts.
According to a report that cited a statement from DCG, the company claimed it made the decision to close its headquarters because of the “condition of the larger economic environment and prolonged crypto winter posing substantial challenges to the industry.”
On Thursday, it was reported by The Information that HQ was responsible for handling assets worth more than $3.5 billion US.
The criticism relates to the fact that Genesis is the parent company of Foundry and Grayscale.
DCG disclosed to its shareholders in a letter that was sent in November that Genesis Global Capital, the lending division of Genesis Global Trading, had been the recipient of loans amounting to a total of 575 million United States dollars as well as a promissory note amounting to 1.1 billion United States dollars.