Cryptocurrency exchange Bitvavo: Nearly $300 million in crypto assets frozen due to DCG holdings

ChainCatcher news, the Dutch crypto exchange Bitvavo stated that its custody feature uses DCG to provide off-chain staking services for its clients. Due to DCG "encountering liquidity issues," it has "paused repayments," and therefore access to the €280 million ($297 million) in frozen crypto assets held by DCG is unavailable.

However, Bitvavo manages approximately €1.6 billion in deposits and crypto assets, of which only €280 million is allocated to DCG. Bitvavo is able to pre-fund any locked assets of DCG to ensure that customer asset withdrawals can be processed at any time. (Source link)