<p><span style="font-weight: 400;">Dutch cryptocurrency exchange Bitvavo said it can’t access 280 million euros ($297 million) held with Digital Currency Group, but a spokesperson for DCG said the issues are with its subsidiary Genesis Global Capital.</span><span style="font-weight: 400;"><br /> </span></p> <p><span style="font-weight: 400;">Bitvavo, in a company <a href="https://blog.bitvavo.com/response-bitvavo-to-situation-dcg/">blog post,</a></span><span style="font-weight: 400;"> said DCG, is “experiencing liquidity problems” and has therefore “suspended repayments” until the issue is resolved. The Dutch said it had</span><span style="font-weight: 400;"> been using DCG to “offer off-chain staking services to its clients,” but the company said the frozen funds would not impact its platform.</span></p> <p>A DCG spokesperson said Bitvavo's relationship was with Genesis Capital, not DCG, and it had reached out to the Dutch firm asking them to correct their post. </p> <p><span style="font-weight: 400;">DCG controls the beleaguered cryptocurrency lender Genesis Global Capital, which last month </span><span style="font-weight: 400;">suspended redemptions and new loan originations shortly after the collapse of FTX upended the crypto world.</span></p> <p><span style="font-weight: 400;">Of the 1.6 billion euros Bitvavo possesses in “deposits and digital assets,” it said that 280 million euros had been placed with DCG. Regardless, Bitvavo said its services would not be interrupted and customers could continue to make withdrawals.</span></p> <p><em>(Updates with response from DCG, which pointed out that Bitvavo's relationship is with Genesis Global Capital.)</em></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>