• March 27, 2023


All the latest cryptocurrency news

Digital Currency Group Lost $1.1B Last Year

Reading time: < 1 minute

Digital Currency Group, a venture capital firm focused on the digital asset sector, recorded a loss of $1.1 billion in 2022.

The loss was reported in the firm’s financial report for the year ending December 31, 2022. It marks the first year of losses since the firm was founded in 2015.

The loss was attributed to a number of factors, including market volatility, regulatory uncertainty, and the overall slowdown in the digital asset market. In addition, the firm also invested in numerous projects that turned out to be unsuccessful.

Despite the loss, the firm remains optimistic about the future of the digital asset sector and continues to invest in promising projects.

The firm’s CEO, Barry Silbert, has said in a statement:

“The Digital Currency Group is confident that the digital asset sector will continue to evolve and mature over the long term. We remain committed to investing in the sector and to helping drive innovation and progress.”

The news of the loss comes as the digital asset sector continues to face uncertainty and regulatory scrutiny.