Cryptocurrency stock market FTXa conglomerate that controls crypto media outlet CoinDesk and investment manager Grayscale after the bankruptcy of DCG and its subsidiary GenesisIt is said that , also suffers from liquidity problems and is on the verge of bankruptcy.
It’s been more than a month since DCG’s arm, Genesis, suspended withdrawals, citing “unprecedented market turmoil.”
Financial TimesDCG and Genesis are on the hunt for fresh cash after the collapse of FTX in November.
DCG is considering divesting some of its venture capital assets worth approximately $500 million, which includes 200 crypto-related projects such as exchanges, banks and custodians in at least 35 countries as a result of its cash-raising efforts.
The FT said in its news that two people with knowledge of the matter owed more than $3 billion to Genesis’ creditors.
However, neither DCG nor Genesis responded to FT’s request for comment.
These people are among Genesis’ debts Gemini He told his clients $900 million, €280 million to Dutch exchange Bitvavo, as well as clients of crypto savings company Donut.
As it is known, Gemini with its founder DCG founder and CEO Barry Silbert There is a crisis between For Gemini founder Cameron Winklevoss He accused Barry Silbert of committing fraud and urged him to seek it.
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