Will Clemente, co-founder of crypto analysis firm Reflexivity Research, in a tweet on December 17 revealed that cryptocurrencies related to Barry Silbert’s Digital Currency Group saw massive selloffs in the last 24 hours. The cryptocurrencies include Filecoin, Flow, Stacks, Livepeer, Ethereum Classic, Decentraland, and others. Are Genesis and Grayscale in trouble?
Bitvavo Custody BV, a part of Dutch cryptocurrency exchange Bitvavo, in a blog revealed that it is facing problems accessing its EUR 280 million allocated to DCG. It said DCG and its affiliates are currently experiencing liquidity problems and has suspended repayments until further notice.
Are DCG’s Grayscale and Genesis on the Brink of Insolvency?
Andrew Parish, the co-founder of ArchPublic, shared that Genesis creditor claims are starting to sell in small batches “in what could be described as a ‘dark market’. ” He reported that two transactions worth $15 million closed at 35% of their pre-withdrawal suspension
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