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Crypto investor DCG reveals web of investments between units

Financial Times LogoFinancial Times1w ago

Crypto investor DCG reveals web of investments between units - Financial Times

Quick Summary:

New York-based Genesis Trading halted withdrawals from its lending unit last week, citing “unprecedented market turmoil” and has since been looking to raise cash.

The US Securities and Exchange Commission has repeatedly refused to allow the Grayscale trust to convert into an exchange traded fund structure open to retail investors.

Silbert wrote to shareholders on Tuesday explaining DCG had borrowed $575mn from its broker Genesis, which is now seeking funds to stave off collapse in an accelerating crisis across the industry.


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Article Details

Author / Journalist: Nikou Asgari

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 12:11:03 (1 weeks ago)

News Timezone: GMT -5:00

Ranking: #488 (out of 2516 stories this day)

News Source URL: ft.com

Language: English

Article Length: 737 words

Reading Time: 5 minutes read

Sentences: 33 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 1909550

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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