Cryptocurrency conglomerate Digital Currency Group (DCG) reported a loss of $1.1 billion last year, as the firm struggled with plunging crypto prices and the restructuring of its lending platform, Genesis.

“In addition to the negative impact of BTC and crypto asset price declines, last year’s results reflect the impact of the Three Arrows Capital (TAC) default upon Genesis,” DCG said in its Q4 Investor Report.

From a consolidated balance sheet perspective, DCG held total assets of $5.3 billion as of Dec. 31, 2022, the report said. This included cash and cash equivalents of just $262 million. Investment assets, including tokens, Grayscale trust shares, venture, and fund investments, amounted to $670 million. The remaining assets consist mostly of Grayscale and Foundry, according to DCG.