Barry Silbert News

Grayscale, the digital asset management firm that is part of Barry Silbert’s crypto conglomerate Digital Currency Group (DCG), is in hot water after being sued by industry rival Osprey Funds over how it promotes the Grayscale Bitcoin Trust (GBTC) fund.

Just two months after the collapse of FTX, Genesis is following suit.

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. 

The early Bitcoin (BTC) evangelist and now Bitcoin Cash (BCH) proponent Roger Ver has been sued by the now-bankrupt crypto lender Genesis after failing to meet a $21m margin call.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Another week, another crypto bankruptcy. 

New York-based cryptocurrency exchange Gemini is letting go of 10% of its workforce amid the ongoing bear market that has seen around $2 trillion wiped out of the crypto market. 

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.

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. 

It looks as if the bear cycle is going to claim another high-profile crypto company. On Jan. 19, Digital Currency Group’s (DCG’s) lending subsidiary, Genesis, filed for Chapter 11 bankruptcy. Here we have yet another industry giant with a tale of incestuous lending, little risk management to speak of and opaque reporting policies. 

Crypto news website CoinDesk has tapped advisors at Lazard, a leading financial advisory and asset management firm, to explore a full or partial sale of its business. The move comes as CoinDesk's sister company Genesis has been hit with a liquidity crunch following the collapse of FTX.

Crypto media outlet CoinDesk is reportedly considering a potential sale as its parent company Digital Currency Group (DCG) looks to strengthen its balance sheet.

Bloomberg reports that Genesis may be getting ready to declare bankruptcy. The troubled crypto lender has been under the shadow of insolvency for weeks, following the credit crisis that has hit the crypto industry.

As more and more crypto companies face scrutiny – and some throw in the towel after a rough bear market - questions are being raised whether that could be a good thing for crypto after all.

Venture capital firm Digital Currency Group (DCG) has told shareholders it is halting its quarterly dividend payments until further notice as it attempts to preserve liquidity.

With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group (DCG) — the parent firm behind crypto market maker and lender Genesis.

The monumental collapse of FTX didn’t just destroy a crypto exchange and wipe out billions in customer deposits — it also exposed accounting irregularities at Barry Silbert’s empire, the Digital Currency Group, or DCG. That’s according to Bitcoin (BTC) billionaire and Gemini co-founder Cameron Winklevoss. The FTX blow-up caused Genesis Global Trading, another DCG firm, to pause new loan originations and redemptions — a decision that directly affected Winklevoss’ Gemini Earn program. The pause on withdrawals has been active for nearly two months, prompting Winklevoss to pen two open letters addressed to Silbert and DCG’s board. The second open letter, published this week, claimed that Silbert was “unfit” to run DCG and that there would be no way forward with him at the helm.

The US Securities and Exchange Commission (SEC) brought charges against major crypto exchange Gemini and the troubled crypto lending and trading firm Genesis. 

Genesis parent Digital Currency Group (DCG) is considering selling some of the assets in its venture portfolio to raise money to help pay off the creditors, says the FT, citing sources. Earlier this month, Genesis laid off about 30% of its workforce as it faced up to the FTX fallout, which had already forced to it to stop customer withdrawals.

Barry Silbert’s crypto conglomerate Digital Currency Group (DCG) is “actively engaged” in talks with creditors, according to a little-known crypto exchange.

Ethereum price (ETH) gained 10.2% from Jan. 4 to Jan. 10, breaching the $1,300 resistance without much effort, but has the Ether price move cast a light on whether the altcoin is ready to begin a new uptrend.