DCG CEO Barry Silbert updates shareholders, says company will emerge 'stronger'

“We have weathered previous crypto winters and while this one may feel more severe, collectively we will come out of it stronger,” he wrote.

"DCG will continue to be a leading builder of the industry and we are committed to our long-term mission of accelerating the development of a better financial system," he wrote in a note to clients obtained by The Block."We have weathered previous crypto winters and while this one may feel more severe, collectively we will come out of it stronger."

"This is an issue of liquidity and duration mismatch in the Genesis loan book. Importantly, these issues have no impact on Genesis’ spot and derivatives trading or custody businesses, which continue to operate as usual." "In recent days, there has been chatter about intercompany loans between Genesis Global Capital and DCG. For those unaware, in the ordinary course of business, DCG has borrowed money from Genesis Global Capital in the same vein as hundreds of crypto investment firms. These loans were always structured on an arm’s length basis and priced at prevailing market interest rates. DCG currently has a liability to Genesis Global Capital of ~$575 million, which is due in May 2023.

Not if we start a movement called The Great Crypto Reset. TGCR Where everyone pulls every coin they own out of these places into self custody.. Then let's see them try gloss over everything. TAKE BACK YOUR CRYPTO SPREAD THE WORD!

'Duration mismatch' is a language only spoken by the Den of Thieves. Bitcoin never has duration mismatches.

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