Digital Currency Group

Digital Currency Group (DCG) is a Stamford, Connecticut-based venture investor and operating holding company for the crypto and blockchain industry, founded by Barry Silbert in October 2015 after he sold his prior company, SecondMarket, to Nasdaq. DCG was structured as a permanent-capital company rather than a traditional fund so it could hold positions indefinitely, and it launched with backing from investors including Bain Capital Ventures, MasterCard, and New York Life. Its earliest wholly owned subsidiaries were Genesis Global Trading, an institutional bitcoin trading desk, and Grayscale Investments, which went on to manage publicly quoted crypto trusts such as the Grayscale Bitcoin Trust. DCG describes itself as investing across the crypto ecosystem from seed stage through public markets, with equity stakes in more than 200 companies. In November 2021 DCG sold $700 million of its own stock in a round led by SoftBank's Vision Fund 2 and Latin America Fund, with Alphabet's Capital G and Singapore's GIC also participating, valuing the company at $10 billion; DCG followed that two weeks later with a $600 million debt facility led by Eldridge. The 2022 collapse of Three Arrows Capital and FTX badly damaged DCG's lending subsidiary Genesis, which filed for Chapter 11 bankruptcy protection in January 2023, and DCG and Barry Silbert were sued by the New York Attorney General over how the losses were disclosed to investors, and DCG (along with former Genesis CEO Soichiro Moro) separately settled with the SEC over related disclosure issues. DCG sold its media subsidiary CoinDesk to the exchange Bullish in November 2023, and by late 2025 was reportedly exploring its own initial public offering in Hong Kong.