Crypto conglomerate Digital Currency Group to shut down a CT business

This is a carousel. Use Next and Previous buttons to navigate At a news conference at 290 Harbor Drive in Stamford on Nov. 29, 2021, DCG announced plans to create more than 300 jobs in the state in the next five years. From left are Caroline Simmons, then Stamford mayor-elect, then-Mayor David Martin, Sen. Richard Blumenthal, Gov. Ned Lamont, Digital Currency Group founder and CEO Barry Silbert, U.S. Rep. Jim Himes and state Department of Economic and Community Development Commissioner David Lehman. STAMFORD — Embattled cryptocurrency conglomerate Digital Currency Group is shutting down one of its Stamford-based subsidiaries, while another of its businesses has filed for bankruptcy and faces federal charges — pressures that reflect widespread disruption in its industry. In a letter last week to shareholders, DCG founder and Chief Executive Officer Barry Silbert said the company had “made the difficult decision to wind down” HQ, the wealth management business that DCG founded in 2020. Employing about 30 people, most of whom are based in Stamford, HQ is set to be dissolved by the end of this month. “While we still believe in the HQ concept and its outstanding leadership team, the current downturn is not conducive for […]

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