DCG Sells Grayscale Shares At Discount
Grayscale’s parent company Digital Currency Group (DCG) started selling discounted shares from products issued by its crypto asset manager. DCG decided to offload assets from the $10 billion-strong portfolio to raise cash. The group’s lending and trading arm Genesis declared bankruptcy last year and owes over $3 billion to creditors, Gemini included.
Filing with the SEC showed that DCG has mainly focused on selling assets from the company’s Ethereum-based product under the ticker ETHE. However, DCG might decide to offload GBTC shares before the Genesis bankruptcy proceedings are over.
Source: Read Full Article