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Grayscale
DCG's largest source of income is the Grayscale Fund. According to Coinglass for January 2023, the Grayscale Bitcoin Trust stores 631.7 thousand bitcoins ($10.8 billion), which is about 3% of all available coins.
History
2022: Temporary suspension of repayment and issuance of new loans
On November 16, 2022, DCG-owned credit company Genesis Global Capital notified customers of a temporary suspension of repayment and issuance of new loans due to market shocks and the collapse of the FTX. Because of this, Genesis partner Gemini was forced to limit payments to customers using the special Gemini Earn program. Genesis' debt to a group of these customers on the Gemini platform amounted to $900 million.
In January 2023, Cameron Winklevoss, one of the twin co-founders of the American crypto exchange Gemini, called for the resignation of the CEO of the Digital Currency Group (DCG) Barry Silbert. In an open letter posted on Twitter (the social network is banned in Russia), Winklevoss, on behalf of Gemini and 340 thousand users of its Gemini Earn service, asked the DCG board to remove Silbert, citing the inability of DCG under his leadership to provide payments to creditors.
2015: Barry Silbert founded the group of companies
Billionaire and longtime cryptocurrencies supporter Barry Silbert founded Digital Currency Group - a group of digital asset-focused companies - in 2015.
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