DCG Founder Reveals $2 Billion Debt While Trying to Calm Investors After FTX Fiasco

11/25/2022

Per CNBC

DGC founder Barry Silbert tries to address the "noise" about DGC's subsidiaries; Genesis, Grayscale Investments, and Foundry. The founder tries to calm investors by saying the company is on pace to generate $800 million in revenue this year while having a $2 billion debt.

The company borrowed $575 million from Genesis and absorbed the $1.1 billion debt that recently bankrupted Three Arrows Capital owed Genesis. Another $350 million credit facility debt was owned to a "small group of lenders led by Eldridge."

Silbert: " We have weathered previous crypto winters... while this one may feel more severe, collectively we will come out of it stronger."

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