Approx one year ago, Genesis, a lending affiliate of DCG, sought bankruptcy protection.
The parent business of Grayscale attributed the increase in revenue to rising asset values.
The company’s revenue reached $210M in the Q4 of 2023, a 59% rise in comparison to the same time the previous year, Digital Currency Group (DCG) said Monday in a letter to shareholders.
The parent business of Grayscale Investments attributed the increase in revenue on rising asset values, especially bitcoin. In comparison to the same time in 2022, when EBITDA was minus $7 million, DCG’s fourth-quarter number jumped to $99 million.
The company mentioned in the letter:
“For the 2023 fiscal year, DCG’s consolidated revenues were $749 million with EBITDA of $275 million.” As of December 31, 2023, DCG’s investment portfolio (including tokens, Grayscale trust shares, venture / fund investments, and public equities) was marked at [about] $975 million.”
Ongoing Litigation
Despite losing billions of doll
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