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Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.According to a Feb. 7 Financial Times report citing seen United States securities filings, DCG sold around a quarter of
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According to the FT report citing filings, DCG's recent share sales have focused on the ethereum fund, where the group has moved to sell about a quarter of its stock to raise as much as $22M in several trades since January 24. The company is selling at about $8 per
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Genesis Global has announced it has reached an "agreement in principle" with Digital Currency Group (DCG) which will eventually see its crypto lending and trading arm sold as part of restructuring efforts.According to a Feb. 6 press release, DCG would contribute its equity in Genesis Global Trading, a trading subsidiary
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The term sheet also involves refinancing the outstanding loans where DCG borrowed $500 million in cash and about $100 million worth of bitcoin (BTC) from Genesis, the person said. Included is “an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for failed hedge fund 3AC
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Hundreds of people have lost their jobs at companies owned by crypto venture capital firm Digital Currency Group (DCG), as the long crypto winter, made colder by the FTX collapse, continues to affect the sector. Amid the recent layoffs, London-based cryptocurrency exchange Luno announced on Jan. 25 a reduction of 35%
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Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit.A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and CEO Barry Silbert, alleging violations of the federal
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Genesis Capital's parent company Digital Currency Group (DCG) denied involvement in Genesis' bankruptcy filing in a statement on Jan. 20. According to DCG, a special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection. Filing for Chapter 11 will allow Genesis to seek the reorganization of debts, assets
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Gemini and Genesis forged a working relationship in 2021 for Gemini Earn, a high-yield-bearing offering serving hundreds of thousands of U.S. investors. For the “Earn” product, Gemini lent customers’ funds to Genesis, which, in turn, loaned that money out to other crypto firms. Source
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Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.According to the Wall Street Journal, CoinDesk has sought the help of investment bankers from financial advisory firm Lazard, who are helping the firm weigh options including
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