As part of Genesis Trading‘s efforts to raise capital, since the company debt exceeds $3 billion, DCG’s parent structure is studying the possibility of selling $500 million in assets from its venture investment portfolio.
The portfolio is made up of around 200 positions in multiple projects, including Coinbase, Kraken, FTX and Blockchain.com.
These investments are reportedly estimated at about $500 million, but they are illiquid in nature, which means that it will take time to find a buyer.
DCG announced in early 2023 it was shutting down its asset management subsidiary, HQ Digital. Genesis Trading has laid off 30% of its employees.
HQ Digital and Digital Currency Group owe $900 million to clients of cryptocurrency exchange Gemini.