In a recent update, Digital Currency Group (DCG) has announced that it is still actively engaged with the various stakeholders involved in the Genesis Capital restructuring process. DCG is a global enterprise that invests in digital currency and blockchain technology companies.
Genesis Capital Restructuring
The restructuring process was initiated by Genesis Capital, which is a subsidiary of DCG. The aim of the process is to streamline operations and increase efficiency. All parties involved in the process entered into a 30-day mediation period on May 1, which is set to end soon.
DCG has stated that it is in discussions with capital providers to secure growth capital. The company is seeking to expand its operations and invest in new digital currency and blockchain technology companies. In addition, DCG is looking to refinance its outstanding intercompany obligations with Genesis.