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Digital Currency Group (DCG), an American digital currency and blockchain technology company, has revealed that they are currently in talks with capital providers. This revelation comes in the midst of a prolonged mediation process between DCG and its affiliates, and Genesis Global Trading.
The issues between the two companies began when DCG filed a suit against Genesis Global Trading in a United States district court in the state of New York. The primary contention involved Genesis apparently breaching a 2016 agreement between the companies. The parties then agreed to enter into a nonbinding mediation process in May of 2018.
The mediation process has been ongoing for over a year now and as a result, DCG has recently revealed that they have begun seeking additional capital from outside providers. Reports have indicated that this fresh capital would essentially help to finance the expenses incurred throughout the course of the legal proceedings with Genesis.
Further reports suggest that the company is confident in the progress that has been made so far, and that talks are ongoing. DCG is hopeful that the additional capital will help bring about a solution to the dispute with Genesis, so that the firm can get back to its mission of helping shape the future of the digital economy.
Given the potential of digital currencies and blockchain technology over the coming years, DCG is a key player in the industry and any updates on the dispute with Genesis are sure to be watched closely by cryptocurrency enthusiasts and industry professionals alike. It remains to be seen if DCG is successful in obtaining additional capital and settling the dispute with Genesis.
