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Digital Currency Group CEO Says Company Will Come Out Stronger from Current Crisis
The collapse of the crypto exchange FTX has even impacted giants like the Digital Currency Group (DCG). On Tuesday, November 22, Digital Currency Group CEO Barry Silbert said that the company will emerge stronger from the current crypto winter.
Digital Currency Group CEO Shares His Vision
DCG is the parent firm of crypto lender Genesis Global and the world’s largest asset manager Grayscale. As per recent reports, Genesis has been facing severe liquidity issues amid massive withdrawals following the FTX collapse. The crypto lender was looking to raise $1 billion but found it difficult to find buyers for its loan book.
Crypto conglomerate Digital Currency Group (DCG) has been caught in the fire as well. Besides, it also owes the Genesis Trading arm a staggering $575 million. In a letter to investors seen by the Wall Street Journal, Barry Silbert said that $575 million worth of intercompany lo
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