Share this article
BTC
$77,213.84
-
7.10%ETH
$1,550.33
-
14.21%USDT
$0.9993
-
0.04%XRP
$1.7870
-
16.09%BNB
$547.23
-
7.99%USDC
$1.0001
+
0.00%SOL
$102.59
-
14.55%TRX
$0.2259
-
4.70%DOGE
$0.1422
-
14.82%ADA
$0.5547
-
14.13%LEO
$8.9185
-
2.56%TON
$3.0475
-
7.32%LINK
$11.03
-
13.54%AVAX
$15.98
-
8.01%XLM
$0.2121
-
15.68%SHIB
$0.0₄1106
-
9.71%SUI
$1.8790
-
13.39%OM
$5.9807
-
4.34%HBAR
$0.1351
-
15.23%BCH
$265.98
-
10.49%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Crypto Conglomerate DCG Closes Wealth-Management Business
The division reportedly had more than $3.5 billion in assets.
Digital Currency Group, the cryptocurrency conglomerate whose Genesis Global Trading division just announced more layoffs, said it's shutting down a wealth-management division called HQ.
"Due the state of the broader economic environment and prolonged crypto winter presenting significant headwinds to the industry, we made the decision to wind down HQ" as of Jan. 31, the company said in a statement Thursday. "We're proud of the work that the team has done and look forward to potentially revisiting the project in the future."
STORY CONTINUES BELOW
The Information reported on the closure earlier, saying the business had more than $3.5 billion of assets under management.
DCG is also the parent company of CoinDesk.
UPDATE (Jan. 6, 2023, 00:07 UTC): Adds confirmation from DCG that HQ is being shut.
Nick Baker
Nick Baker is CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
