Revenue at Digital Currency Group (DCG) increased 51% to $229 million in the first quarter of 2024, driven by the rebound in crypto markets.
Digital Currency Group (DCG) saw a surge in revenue in the first quarter of 2024, driven by the recovery of crypto markets.
The crypto conglomerate’s revenue jumped 51% year-over-year to $229 million, the company reportedly wrote in a letter to shareholders.
Grayscale’s revenue held steady during the quarter despite $17.4 billion in outflows from its Bitcoin fund since it was converted to an exchange-traded fund (ETF) in January. The asset manager generated $156 million in revenue thanks to rising asset prices, offsetting losses in assets under management.