News
Genesis is seeking over $3.3 billion from DCG, Barry Silbert and affiliates in two lawsuits alleging fraud, insider enrichment and concealed transfers.
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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.
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The executive added that most of the millions of cryptocurrencies in circulation today lack any real monetary value.
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Barry Silbert, CEO of Digital Currency Group once pitched creating a combined company with Gemini that could compete with the likes of Coinbase and FTX.
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The GBTC “mass exodus” may be showing signs of slowing, but that hasn’t stopped Bitcoin from falling to two-month lows on Jan. 23.
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The CEO of Digital Currency Group, Barry Silbert, stated that the company has now satisfied all its obligations that are currently due.
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Grayscale has “finally surrendered” to cash creations in its amended filing to convert GBTC into a spot Bitcoin ETF.
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A filing from New York Attorney General Letitia James alleges that the cryptocurrency companies defrauded investors of over $1 billion.
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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.
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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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