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Dutch Bitcoin Exchange Bitvavo Alleges Digital Currency Group Is Having ‘Liquidity Problems’ 


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In a recently published blog post, Dutch crypto exchange Bitvavo stated that the Digital Currency Group (DCG) “has suspended repayments” after “experiencing liquidity problems due to the current turbulence in the crypto market.”

Bitvavo also revealed that it has 280 million Euros ($297 million in USD) or 17.5% of the $1.6 billion Euros it currently manages stuck with DCG. However, Bitvavo assured customers that the situation “does not have any impact on the Bitvavo platform.” It has also guaranteed no service disruption to its users and has announced that it will prefund the locked assets.

The company stated that it “has been making a profit since its inception and is in a financially solid position” and that DCG’s debt will have no negative impact on its day-to-day operations. It further reassured the status quo even if DCG failed to keep their end of the bargain up.

https://decrypt.co/117506/dutch-bitcoin-exchange-bitvavo-alleges-digital-currency-group-is-having-liquidity-problems

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