In an effort to maintain its current level of liquidity, the venture capital firm Digital Currency Group (DCG) has informed its shareholders that it would temporarily suspend the payment of its quarterly dividends until further notice.

In the letter sent to shareholders on January 17, the company’s main objective is to improve the quality of our balance sheet by reducing operating expenses and maintaining a sufficient level of liquidity.

DCG said it was also considering selling some of the assets included in its portfolio.

The company’s financial problems stem from difficulties experienced by one of its subsidiaries, a cryptocurrency broker known as Genesis Global Trading. Genesis Global Trading reportedly owes its creditors more than $3 billion.

Due to the fact that Genesis has disabled the ability of its clients to withdraw funds since November 16, Cameron Winklevoss, on behalf of his Gemini exchange and its users who hold funds on Genesis, has written an open letter to the board of directors of DCG requesting that Barry Silbert be removed from his position as CEO of the company. The letter was published on January 10.

Winklevoss claims that Genesis owes Gemini a total of $900 million for money that was leased to Genesis as part of Gemini’s Earn program. This program gives clients the opportunity to earn an annual return of up to 7.4% on their investments. Winklevoss also said DCG owed Genesis a total of $1.675 billion, though Silbert disputed this claim.

Both companies were indicted on January 12 by the United States Securities and Exchange Commission (SEC) for trading unregistered securities through the Earn program. Winklevoss’s letter had just been sent when the SEC poured gasoline on the flames by adding the charges.

The difficulties with Genesis were not discovered until after the suspension of withdrawals on November 16, which the company attributed to the extreme market instability that followed the FTX collapse and was the cause of abnormally high amounts of withdrawals.

On November 10, less than a week earlier, Genesis revealed that it had around $175 million stranded at FTX. As a direct consequence of this disclosure, DCG sent Genesis an emergency capital injection of $140 million in an effort to remedy the company’s liquidity problems.