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Top related persons:
CoinDesk - 2 Barry - 2 Bullish - 2 Tom Farley - 1 Farley - 1 Silbert - 1 Michael Casey - 1 weren't - 1
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New York Stock Exchange - 1 ex - 1 NYSE - 1 Barry Silbert's Digital Currency - 1 Wall Street Journal - 1 Lazard - 1 CNBC - 1 Barry Silbert's Digital Currency Group - 1

Search resuls for: "Barry Silbert's Digital Currency Group"


9 mentions found


☆ Barry Silbert's crypto empire continues to spiral as ex-NYSE president buys news site CoinDesk
  + stars: | 2023-11-20 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +1 min
After months on the market, crypto news site CoinDesk has finally been acquired by a business that's run by the former president of the New York Stock Exchange. Bullish, a digital asset exchange led by ex-NYSE chief Tom Farley, has purchased CoinDesk from Barry Silbert's Digital Currency Group. It's the latest sign that Silbert's crypto empire, which had vaulted its founder into the billionaire ranks, continues to fall apart. In July, however, a $125 million purchase agreement from a consortium of investors fell through. In August, CoinDesk reportedly laid off around 16% of its staff.
Persons: CoinDesk, Tom Farley, Barry, Farley, Bullish, Silbert, Michael Casey Organizations: New York Stock Exchange, ex, NYSE, Barry Silbert's Digital Currency, Wall Street Journal, Lazard, CNBC
☆ Crypto exchange Bullish buys news website CoinDesk
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: 1 min
Nov 20 (Reuters) - Cryptocurrency exchange Bullish said on Monday it has acquired crypto news website CoinDesk from Barry Silbert's Digital Currency Group (DCG). Financial terms of the deal, which was first reported by the Wall Street Journal, weren't disclosed. CoinDesk, which was launched in 2013 and bought by DCG three years later, will continue to be led by Kevin Worth and operate as an independent subsidiary within Bullish, the firm said. CoinDesk also announced the appointment of Matt Murray, former editor-in-chief of the WSJ, to serve as chair of its editorial committee tasked with ensuring journalistic independence. Reporting by Manya Saini in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Bullish, Barry, weren't, Kevin Worth, CoinDesk, Matt Murray, Manya Saini, Shailesh Organizations: Barry Silbert's Digital Currency Group, Wall Street, Thomson Locations: Bullish, Bengaluru
☆ Ex-Genesis execs raised millions for crypto hedge fund just as former company neared bankruptcy
  + stars: | 2023-01-21 | by ( Mackenzie Sigalos Rohan Goswami | Mackenzie Sigalos | Rohan Goswami | ) www.cnbc.com   time to read: +3 min
Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Gemini, a crypto exchange and major Genesis client, accused Ballensweig of falsely reassuring Gemini in July that Genesis was financially stable. The ex-Genesis employees teamed up with Adam Guren from hedge fund Hunting Hill, Ballensweig said. Hunting Hill is a $718 million hedge fund, which launched in 2010 and moved into digital asset investing in 2020 with a crypto opportunities fund. Neither Hunting Hill nor Bessemer immediately responded to a request for comment.
☆ Crypto lender Genesis files for bankruptcy in latest blow to Barry Silbert's DCG empire
  + stars: | 2023-01-20 | by ( Rohan Goswami Mackenzie Sigalos | Rohan Goswami | Mackenzie Sigalos | ) www.cnbc.com   time to read: +2 min
The company listed over 100,000 creditors in a "mega" bankruptcy filing, with aggregate liabilities ranging from $1.2 billion to $11 billion dollars, according to bankruptcy documents. In a statement, the company noted that the companies were only involved in Genesis' crypto lending business. Genesis listed a $765.9 million loan payable from Gemini in Thursday's bankruptcy filing. Other sizeable claims included a $78 million loan payable from Donut, a high-yield, decentralized platform, and a VanEck fund, with a $53.1 million loan payable. The bankruptcy puts Genesis alongside other fallen crypto exchanges including BlockFi, FTX, Celsius, and Voyager.
☆ Crypto publication CoinDesk hires Lazard to explore sale as crisis deepens at parent company DCG
  + stars: | 2023-01-18 | by ( Rohan Goswami | ) www.cnbc.com   time to read: +1 min
Crypto trade publication CoinDesk is exploring a potential sale, hiring advisors at Lazard to weigh a move that would remove it from Barry Silbert's Digital Currency Group. The Wall Street Journal was first to report on the media company's hiring of Lazard. That reporting sparked a downward spiral at crypto exchange FTX, ultimately leading to the collapse of the company in November, the arrest of Bankman-Fried and multiple regulatory probes. Genesis is also the subject of a Securities and Exchange Commission charge alongside crypto exchange Gemini. Worth said Lazard will help CoinDesk "explore various options to attract growth capital to the CoinDesk business, which may include a partial or full sale."
☆ Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities
  + stars: | 2023-01-12 | by ( Rohan Goswami | ) www.cnbc.com   time to read: +3 min
The Securities and Exchange Commission on Thursday charged crypto firms Genesis and Gemini with allegedly selling unregistered securities in connection with a high-yield product offered to depositors. Gemini, a crypto exchange, and Genesis, a crypto lender, partnered in February 2021 on a Gemini product called Earn, which touted yields of up to 8% for customers. Genesis should have registered that product as a securities offering, SEC officials said. Gemini's Earn program, supported by Genesis' lending activities, met the SEC's definition by including both an investment contract and a note, SEC officials said. SEC officials said the possibility of a DCG or Genesis bankruptcy had no bearing on deciding whether to pursue a charge.
☆ Who is DCG's Barry Silbert, the crypto baron in the crosshairs of the Winklevoss twins over 'bad faith' business practices?
  + stars: | 2023-01-09 | by ( Morgan Chittum | ) www.businessinsider.com   time to read: +4 min
Barry Silbert is the CEO of Digital Currency Group, the crypto conglomerate that owns Genesis and Grayscale. In 2015, the 46 year old started Digital Currency Group (DCG), the $10 billion parent company that controls industry giants like crypto brokerage Genesis and digital asset manager Grayscale. The conglomerate also owns trade publication Coindesk, crypto mining firm Foundry Services, crypto index provider TradeBlock, and digital asset platform Luno Global. Cameron Winklevoss blasted Silbert for "bad faith" business practices last week, alleging the crypto baron owes the digital asset exchange's customers $900 million. Prior to launching DCG, Silbert went to Emory University's Goizueta Business School and began his career as an investment banker at Houlihan Lokey.
☆ Crypto lender Genesis Trading lays off 30% of workforce
  + stars: | 2023-01-05 | by ( Rohan Goswami | ) www.cnbc.com   time to read: +1 min
Genesis had already laid off 20% of its workforce and last year replaced its CEO. Silbert's crypto conglomerate, which includes the Grayscale Bitcoin Trust (GBTC) and mining company Foundry, was hit by the market tumult of 2022 and the bankruptcy of crypto hedge fund Three Arrows Capital. The Wall Street Journal reported earlier on the cuts. Genesis engaged bankruptcy professionals shortly after the collapse of crypto exchange FTX and its sister hedge fund Alameda Research. The Wall Street Journal reported that Genesis had sought an emergency loan of $1 billion shortly after the implosion of Alameda, which was a major Genesis client.
☆ Grayscale refuses to share proof of reserves due to 'security concerns' as shares trade at a 45% discount to bitcoin
  + stars: | 2022-11-21 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +3 min
Grayscale, the asset manager running the world's largest bitcoin fund, said in a statement that it won't share its proof of reserves with customers. Grayscale's flagship fund is the Grayscale Bitcoin Trust, known by its GBTC ticker. The firm pointed to a letter sent by Coinbase CFO Alesia Haas on Nov. 18, which breaks down an accounting of the tokens held at Coinbase Custody. In a tweet, the firm added that the "laws, regulations, and documents that define Grayscale's digital asset products prohibit the digital assets underlying the products from being lent, borrowed, or otherwise encumbered." Barry Silbert's Digital Currency Group is the parent company of Grayscale, Genesis, and CoinDesk.
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