DCG founder Barry Silbert liquidated 120,000 shares of ETCG Grayscale Investments, a subsidiary of the holding company he leads. This follows from applications for the SEC.
The position was valued at $755,295.
This is the first time that Silbert has gotten rid of this instrument. The CEO of DCG acquired the securities in a series of transactions between 2017 and 2018.
Grayscale Investment launched ETCG in April 2017. Since then, the value of its shares has risen by 323.4%. The AUM of the trust is $225.8 million, the aggregate figure for all 17 products of the management company is $24.5 billion.
The other day, DCG reported to investors a profit of $180 million in the first quarter of 2023, up 63% from the previous reporting period.
On November 16, 2022, Global Capital, which is part of the Genesis holding, froze the withdrawal of funds and the issuance of new loans. The firm cited “increased demand” from customers following the collapse of FTX.
In January 2023, Genesis Global Holdco and its subsidiaries Genesis Asia Pacific and Genesis Global Capital filed for bankruptcy. According to media reports, their liabilities exceed $3 billion.
A month later, DCG and its bankrupt Genesis subsidiaries reached an agreement in principle on the terms of the restructuring plan with major creditors.
In April, a group of the latter rejected the deal agreed in February and put forward new demands.
Recall that in May, DCG, Genesis, the committee of creditors (including the Gemini exchange) agreed to launch a 30-day pre-trial reconciliation process.
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DCG founder Barry Silbert liquidated 120,000 shares of ETCG Grayscale Investments, a subsidiary of the holding company he leads. This follows from applications for the SEC.
The position was valued at $755,295.
This is the first time that Silbert has gotten rid of this instrument. The CEO of DCG acquired the securities in a series of transactions between 2017 and 2018.
Grayscale Investment launched ETCG in April 2017. Since then, the value of its shares has risen by 323.4%. The AUM of the trust is $225.8 million, the aggregate figure for all 17 products of the management company is $24.5 billion.
The other day, DCG reported to investors a profit of $180 million in the first quarter of 2023, up 63% from the previous reporting period.
On November 16, 2022, Global Capital, which is part of the Genesis holding, froze the withdrawal of funds and the issuance of new loans. The firm cited “increased demand” from customers following the collapse of FTX.
In January 2023, Genesis Global Holdco and its subsidiaries Genesis Asia Pacific and Genesis Global Capital filed for bankruptcy. According to media reports, their liabilities exceed $3 billion.
A month later, DCG and its bankrupt Genesis subsidiaries reached an agreement in principle on the terms of the restructuring plan with major creditors.
In April, a group of the latter rejected the deal agreed in February and put forward new demands.
Recall that in May, DCG, Genesis, the committee of creditors (including the Gemini exchange) agreed to launch a 30-day pre-trial reconciliation process.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
