Crypto Conglomerate Digital Currency Group Reports Loss of $1.1B in 2022

Cryptocurrency conglomerate Digital Currency Group reported a $1.1 billion loss for 2022, as crypto prices crashed and it restructured its lending platform, Genesis. DCG held total assets of $5.3 billion as of December 31, 2022, which included cash and cash equivalents of $262 million. DCG held cash and cash equivalents of just $262 million at the end of 2022, while investment assets amounted to $670 million. Investment assets, including tokens, Grayscale trust shares, and venture and fund investments, amounted to $670 million.