News
A filing from New York Attorney General Letitia James alleges that the cryptocurrency companies defrauded investors of over $1 billion.
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Barry Silbert News
Barry Silbert is the founder and CEO of Digital Currency Group, a venture capital firm that focuses on the cryptocurrency market and the blockchain technology industry. Barry Silbert started investing in Bitcoin startups in 2013 as a venture capitalist and provided funding for such companies as BitPay, Coinbase and Ripple. Barry is also the creator of Bitcoin Investment Trust, which is a private, open-ended trust, that enables investors to profit from the price jumps of Bitcoin without the having to worry about buying and storing Bitcoins. Prior to founding Digital Currency Group, Silbert established Secondmarket Holdings, Inc., and worked as its Chief Executive Officer. Barry is also famous for his publications about trading illiquid assets in such journals as The Wall Street Journal, Financial Times, Fortune and Forbes.
- News
Digital Currency Group is reportedly under investigation in New York for financial transactions involving its subsidiary, Genesis Global Capital.
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This week’s Crypto Biz also explores Gemini’s fight with the Digital Currency Group over user funds, new banking tools for the digital yuan, and OpenAI’s efforts to stop users from jumping paywalls.
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Gemini co-founder Cameron Winklevoss alleged Barry Silbert committed fraud by knowing Genesis was “massively insolvent” when attempting to continue the Earn program.
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In an open letter, Cameron Winklevoss slammed DCG’s Barry Silbert for allegedly playing the victim card while owing $1.2 billion to Gemini’s 232,000 Earn customers.
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The purported sales are the latest measures the embattled firm has taken following moves in recent months to raise capital and preserve liquidity.
6921 - Opinion
Genesis CEO Barry Silbert should have come clean after FTX imploded. Instead, he’s still deflecting responsibility for his company’s bankruptcy.
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Amid Genesis going through its first bankruptcy hearings, a group of creditors have slapped the firm with a new class action lawsuit.
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A special committee of independent directors recommended and decided to file for Chapter 11 bankruptcy protection.
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Genesis, a subsidiary of Barry Silbert's Digital Currency Group, filed for Chapter 11 bankruptcy on Jan. 19. Its default could have big implications for the crypto industry.
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DCG has reportedly received offers for CoinDesk exceeding $200 million in recent weeks, which at a purchase price of $500,000 would be a 39,900% return on its initial investment.
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Digital Currency Group, a venture capital firm that owns a stake in more than 200 crypto projects, announced the dividend halt while one of its subsidiaries is in financial strife.
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The public battle between Cameron Winklevoss and Digital Currency Group CEO Barry Silbert continues to rage.
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Barry Silbert’s letter to shareholders came just hours after Cameron Winklevoss wrote an open letter accusing him of defrauding customers.
6047 - Market Update
No fresh BTC price catalyst from the Fed as Chair Jerome Powell fails to mention inflation altogether.
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