DCG Sells Grayscale Stake – Report

DCG Sells Grayscale Stake – Report

Share and Get Popular🚀

To pay creditors, the company Digital Currency Group (DCG) is reportedly selling its stake at Grayscale Trust, according to a Tuesday report by Financial Times.

The bankrupt Genesis Trading is an arm of DCG, Genesis dragged DCG into a financial crisis some weeks ago after halting withdrawals on its earn program and subsequently filed for creditors’ protection, an event that was spurred by the Three Arrows Capital bankruptcy and FTX exchange downfall.

Citing a US securities filing, the Financial Times, DCG is looking to raise funds to tackle the current financial crisis it is facing, and as part of the measure it is taking, it has however commenced selling off its shares in Grayscale Trust.

As per the report, the company is selling the shares at a discount rate of $8, this is a sale of about a 50% discount on its Ether shares.

Grayscale is a subsidiary of DCG and an asset manager which manages several assets including Bitcoin, Ether, and other crypto assets. Investors invest with Grayscale by buying shares from the company. 

Signals for Bitcoin, ETH, and other trending altcoins on Binance, Kucoin, and Bybit exchanges are benefits you’ll get when you register for our ParadiseFamilyVIP.

Use PRO20% for your special 20% discount today as the promo expires soon. Click here to see reviews from our clients.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights, and also FREE market updates.

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

Recent Articles

Follow Us

Trade Crypto Like a PRO

Decrease the risk of losing everything you have.

A team of 4 professional traders is sharing their personal daily trade setups with you.

Imagine finally having the right strategy, insights and knowledge to profit from the volatile crypto market movements consistently.

Safe Time, and Start Trading Like a PRO Today
Dark Mode