The Digital Currency Group (DCGco) has started selling holdings in Grayscale, according to a Financial Times report citing U.S. Securities Filings. By Amitoj
On Jan. 20 this year, Genesis Global Holdco LLC, the holding company of cryptocurrency lender Genesis Global Capital,
in New York, after being hit by the crypto contagion of 2022, which was exacerbated by the implosions of hedge fund Three Arrows Capital and crypto exchange FTX.that DCG and Genesis reached an agreement with a key group of creditors intending to sell its subsidiary Genesis' crypto trading business as well as its lending arm, which is restructuring through bankruptcy.
According to the FT report citing filings, DCG's recent share sales have focused on the ethereum fund, where the group has moved to sell about a quarter of its stock to raise as much as $22M in several trades since January 24. The company is selling at about $8 per share, despite each share's claim to $16 of ether.DCG and Grayscale did not immediately respond to a CoinDesk request for comment.
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