Can DCG, Genesis, and Grayscale Survive the FTX Fallout?
Barry Silbert, founder and chief of Digital Currency Group (DCG), has revealed that the company owes $2B to its subsidiaries and external creditors.

Barry Silbert, founder and chief of Digital Currency Group (DCG), has revealed that the company owes $2B to its subsidiaries and external creditors.
Genesis customers will likely be waiting for weeks before they can withdraw their funds.
The leading crypto, Bitcoin, is up by nearly 12% in two weeks, whereas Ethereum is up by almost 20%.
Bankruptcy may be inevitable if a bailout cannot be secured.
The question of whether Genesis Trading and Digital Currency Group (DCG) will go bust currently hangs over the crypto and Bitcoin market.
Genesis and its parent company, Digital Currency Group (DCG), are under pressure, and there are growing concerns about their potential default.
Genesis has spent the past several days seeking at least US$1 billion (S$1.4 billion) in fresh capital.
This comes after the collapse of hedge fund Three Arrows Capital and crypto exchange FTX.
The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.