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The term sheet also involves refinancing the outstanding loans where DCG borrowed $500 million in cash and about $100 million worth of bitcoin (BTC) from Genesis, the person said. Included is “an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for failed hedge fund 3AC
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For the company as a whole, Meta reported adjusted quarterly earnings per share for the fourth quarter of $1.76, missing the analyst consensus estimate of $2.26, according to FactSet, while Meta's overall revenue of $32.2 billion beat estimates of $31.6 billion. It guided for Q1 revenue between $26 billion to
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DCG is currently looking for ways to save its business and grow its capital.Crypto-based firm CoinDesk has begun weighing its options regarding a potential sale as it looks to attract growth capital. According to the WSJ, the firm has recently received offers above $200 million. And if the deal goes
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Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including
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The Korean-based entity will take up a new name, and henceforth, operate independently from Huobi Global.Crypto exchange Huobi Korea is reportedly gearing up to part ways with its parent company Huobi Global. According to News1, Huobi Korea will also seek to change its name as part of the separation process.Huobi
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According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary
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Local media reported Jan. 9 that cryptocurrency exchange Huobi Korea is preparing to purchase its shares from Huobi Global and change its name. About 72% of shares in Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean chairman Cho Kook-bong would take over Li’s share in the
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TikTok-parent ByteDance said that these job cuts come as part of the company’s plans to streamline operations.As per the latest reports, ByteDance, the parent firm of the social media platform TikTok has cut hundreds of jobs across multiple departments by the end of 2022. TikTok has reportedly joined the list
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"In terms of new business domains, we named three focus investment fields under our medium-term business plan," Matsuda wrote. "Among those, we are most focused on blockchain entertainment, to which we have devoted aggressive investment and business development efforts. Source
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John Ray III, who assumed leadership of the company last month hours before it filed for bankruptcy protection, will tell the House Financial Services Committee that his new team has so far secured over $1 billion in digital assets, though that's only a small portion of the billions the company
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