• May 31, 2023


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Digital Currency Group is Selling Stakes in Grayscale Trusts

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Digital Currency Group (DCG) has already started selling shares in some of the largest crypto funds managed by Grayscale Investments, according to the Financial Times.

The publication has reported that the conglomerate wants to raise funds to support Genesis, its division that has recently filed for bankruptcy. At the same time, Digital Currency Group is trying to keep the most profitable investment structures like Grayscale.

Genesis filed for bankruptcy in January and its liabilities allegedly exceed $3 billion, including more than $900 million owed to customers of the Gemini Earn product.

DCG has suspended the payment of dividends and has started to explore the possibility of selling a number of non-core assets against the background of the financial problems of its subsidiary.