Author: Cryptoclaps
a Dutch cryptocurrency exchange, has claimed that Digital Currency Group (DCG), a major cryptocurrency investment firm, is experiencing liquidity problems. Bitvavo stated that it has 280 million euros ($297 million) in assets that are currently stuck with DCG. This represents 17.5% of the total deposits and assets that Bitvavo manages. Bitvavo assured its customers that the situation will not have any impact on the Bitvavo platform. However, the exchange also stated that DCG has suspended repayments until the liquidity issue is resolved. DCG has not yet responded to Bitvavo’s claims. A spokesperson for Digital Currency Group (DCG) told Reuters that…
The evaporating funding means “a lot of companies are doing their down rounds,” said the founder of Delta Blockchain Fund.Venture capital funding for crypto projects has fallen sharply in recent months. According to a Crunchbase report, venture capital funding for crypto projects in Q1 2023 was $1.7 billion, down 82% from $9.1 billion in Q1 2022.There are a number of factors that could be contributing to this decline, including the recent bear market in cryptocurrencies, increased regulatory scrutiny of crypto, and concerns about the environmental impact of crypto mining.Yes, the crypto industry is facing some headwinds at the moment. Venture…