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Nick Baker
Nick Baker is CoinDesk's deputy editor-in-chief. It has little quantities of btc and eth.
Digital Currency Group, the cryptocurrency conglomerate whose Genesis Global Trading division just announced more layoffs, said it's shutting down a wealth-management division called HQ.
"Due the state of the broader economic environment and prolonged crypto winter presenting significant headwinds to the industry, we made the decision to wind down HQ" as of Jan. 31, the corporation declared in a statement on Thursday. "We are proud of the team's work and look forward to reviewing the project going forward."
The Information reported on the closure earlier, saying the business had more than $3.5 billion of assets under management.
DCG also serves as CoinDesk's parent company.
UPDATE (Jan. 6, 2023, 00:07 UTC): Adds confirmation from DCG that HQ is being shut.
