Barry Silbert News

Subscribe to enjoy similar stories.Bitcoin die-hards think they’ve found the hot new thing.Some longtime crypto enthusiasts are souring on bitcoin as it goes mainstream, frustrated that it no longer provides the privacy they value. Others are disenchanted with how politicians and celebrities are suddenly embracing bitcoin—or they’re just fed up with the token’s slumping price.Now, bitcoin’s early evangelists are getting behind another digital token: Zcash.Tyler and Cameron Winklevoss are among the bitcoin pioneers betting big on the so-called privacy token, which lets users shield their transaction details.Zcash’s emphasis on anonymity reminds some of crypto’s early days, when privacy was championed as a ticket to personal freedom.“It feels like bitcoin circa 2013,” said Barry Silbert, founder of Digital Currency Group and Grayscale Investments, which set up the first publicly traded bitcoin fund.Catch all the Technology News and Updates on Live Mint.

This past week, a major conviction occurred in a crypto technology case, as a developer of privacy-preserving software was convicted for money laundering in the Netherlands. The CEO of digital asset manager Grayscale also resigned, and a report suggested the crypto industry could have a bigger political impact than ever through lobbying efforts.

Grayscale CEO Michael Sonnenshein is stepping down from the firm after joining the team in 2014 and serving as CEO since 2021. Sonnenshein will be replaced by former Goldman Sachs executive Peter Mintzberg on August 15.

Digital Currency Group (DCG), parent firm of bankrupt crypto lender Genesis, has brought on its first-ever chief legal officer as it faces a lawsuit from New York’s Attorney General.

Barry Silbert, founder and CEO of crypto conglomerate Digital Currency Group (DCG), stands to potentially gain up to $1 billion through a sophisticated maneuver involving the bankruptcy system. 

Paolo Ardoino, the CEO of Tether, the issuer of USDT, the world’s largest stablecoin by market cap, has  taken a jab at Digital Currency Group (DCG), the distressed crypto firm currently facing a lawsuit from the New York Attorney General (NYAG). 

Digital Currency Group (DCG) founder and CEO Barry Silbert proposed a possible merger of Genesis and Gemini according to an email exchange back in 2022, recent court filings show.

Digital Currency Group (DCG), the parent company of the now-defunct cryptocurrency lending platform Genesis Global Capital, has taken action to dismiss the lawsuit filed against it by New York Attorney General Letitia James.

The first suit, filed in October, charged Genesis and its former CEO Soichiro Moro, its parent company, DCG, and DCG’s CEO Barry Silbert with defrauding investors and the public by trying to conceal more than $1.1 billion in losses, which were borne by investors. The suit has been amended after more DCG investors came forward claiming they had been misled about the safety of their investments, says AG James. “After months of false promises, we pulled the curtain back and revealed that DCG was lying to investors and defrauding them out of billions,” says Attorney General James. “The fraud and deceit were so expansive that many additional people have come forward to report similar harm.” The suit relates to a failed partnership between Gemini and DCG unit Genesis on the former's Earn interest-bearing product.

Alameda Research Ltd., the hedge fund associated with the bankrupt cryptocurrency exchange FTX, has voluntarily dropped its lawsuit against Grayscale Investments amid GBTC outflows. According to court filings from January 22, Alameda opted out of suing Grayscale, its CEO Michael Sonnenshein, its parent company Digital Currency Group’s (DCG), and founder Barry Silbert over a ban on Grayscale’s Bitcoin Trust (GBTC) redemptions. The lawsuit, filed in March 2023, alleged that over $9 billion in investor funds were trapped in Grayscale’s Bitcoin Trust (GBTC) after the collapse of FTX.

Digital Currency Group (DCG) has successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis. 

Grayscale Investments has amended its S-3 filing with the U.S. Securities and Exchange Commission (SEC). This move is aimed at transitioning the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin Exchange-Traded Fund (ETF). Notably, the amendment follows the resignation of Barry Silbert as the chairman of Grayscale, marking a new chapter in the company's direction​​​​.

Grayscale Investments, a leading cryptocurrency trust manager, has announced the resignation of Barry Silbert from its board of directors. Silbert, recognized as the founder and CEO of Digital Currency Group (DCG), the parent company of Grayscale, officially stepped down as of January 1, 2024. This move comes amidst a challenging period for the crypto industry, particularly following the 2022 market downturn.

Bankrupt crypto lender Genesis Global Capital has filed a lawsuit against cryptocurrency exchange Gemini to recover $689 million in preferential transfers, according to a Nov. 21 court filing.

A mix of highly influential and controversial entrepreneurs make up the latest list of the ten most popular crypto entrepreneurs based on their social media presence, with Binance CEO Changpeng ‘CZ’ Zhao leading the pack in first place and convicted fraudster Sam Bankman-Fried trailing 

Pravjit Tiwana, the global Chief Technology Officer (CTO) and Asia head of Gemini Trust Co., is reportedly leaving the company.

Digital Currency Group (DCG) has found itself under intense legal scrutiny after it was confronted with a civil lawsuit filed by New York Attorney General Letitia James on October 19. In an attempt to challenge the allegations, DCG has enlisted renowned litigator Barry Berke, who previously served as chief impeachment counsel in the case against former President Donald Trump.

Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to secure loans made by 232,000 Gemini users to Genesis through the Gemini Earn Program. That collateral is currently worth close to $1.6 billion.

Crypto industry powerhouse Digital Currency Group (DCG) has provided a response to its latest fraud lawsuit from the New York Attorney General (NYAG) last week, alongside updated Q3 financial figures.

New York Attorney General Letitia James has filed a complaint against popular crypto exchange Gemini, crypto lending firm Genesis, and crypto investment company Digital Currency Group (DCG). 

The suit relates to a failed partnership between Gemini and DCG unit Genesis on the former's Earn interest-bearing product. Last year, customer assets were frozen after Genesis halted withdrawals following the FTX collapse. The suit alleges that Gemini lied to investors about Earn, repeatedly assuring customers that investing with Genesis through the programme was low-risk investment despite the fact that its own internal analyses showed that the company’s financials were risky.