{"id":549229,"date":"2023-02-08T08:53:03","date_gmt":"2023-02-08T05:53:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dcg-offloads-grayscale-shares-to-raise-capital-report\/"},"modified":"2023-02-08T08:53:03","modified_gmt":"2023-02-08T05:53:03","slug":"dcg-offloads-grayscale-shares-to-raise-capital-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dcg-offloads-grayscale-shares-to-raise-capital-report\/","title":{"rendered":"# DCG offloads Grayscale shares to raise capital: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35780229b8c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35780229b8c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dcg-offloads-grayscale-shares-to-raise-capital-report\/#%E2%80%9D_DCG_offloads_Grayscale_shares_to_raise_capital_Report_%E2%80%9C\" >&#8221; DCG offloads Grayscale shares to raise capital: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_DCG_offloads_Grayscale_shares_to_raise_capital_Report_%E2%80%9C\"><\/span>&#8221; DCG offloads Grayscale shares to raise capital: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.<\/p>\n<p>According to a Feb. 7 Financial Times <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/abee7e2e-1d18-4a68-aac5-665869db250f\">report<\/a> citing seen United States securities filings, DCG sold around a quarter of its shares in Grayscale\u2019s Ether (ETH)-based fund for around $8 per share, despite each share holding a claim to nearly double that amount in ETH.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/b85dbb8c-8dff-447d-af11-222711aacdac.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The market price per share (gray) vs holdings per share (green) of the Grayscale Ethereum Trust (ETHE). Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/grayscale.com\/products\/grayscale-ethereum-trust\/\"><em>Grayscale<\/em><\/a><\/figcaption><\/figure>\n<p>It\u2019s also said to have sold down small share parcels in Grayscale\u2019s Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC)-based trusts in addition to its Digital Large Cap Fund \u2014 which combines Bitcoin (BTC), Ether, Polygon (MATIC), Solana (SOL) and Cardano (ADA) into a single fund.<\/p>\n<p>When asked about the share sales DCG was quoted as saying that: \u201cThis is simply part of our ongoing portfolio rebalancing.\u201d<\/p>\n<p>Despite the statement, some observers believe Barry Silbert\u2019s DCG may be headed toward financial strife.<\/p>\n<p>Another one of its subsidiaries \u2014 crypto lending firm Genesis Global Capital \u2014\u00a0filed for bankruptcy on Jan. 19 and is believed to\u00a0owe creditors over $3 billion.<\/p>\n<p>Companies owned by DCG have been severely affected by the contagion resulting from FTX\u2019s implosion, with over 500 employees laid off in recent weeks.<\/p>\n<p>However, DCG has taken a number of steps to preserve liquidity in 2023, such as announcing to its shareholders in a Jan. 17 letter that it would be halting its quarterly dividend payments as it looks to strengthen its balance sheets.<\/p>\n<p><strong>Related: <\/strong><strong>Genesis creditors to expect 80% recovery under proposed restructuring plan<\/strong><\/p>\n<p>DCG has also sought the help of financial advisory firm Lazard to help it weigh up options to sell crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet CoinDesk \u2014 another of its subsidiaries \u2014 after it claimed to have received offers for the outlet exceeding $200 million.<\/p>\n<p>Grayscale, Genesis, and CoinDesk are among some 200 crypto-related businesses in DCG\u2019s venture capital portfolio according to its website. Other companies that DCG has equity in include the crypto exchange Luno and advisory firm Foundry.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dcg-offloads-grayscale-shares-to-raise-capital-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; DCG offloads Grayscale shares to raise capital: Report &#8220; Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity. According to a Feb. 7 Financial Times report citing seen United States securities filings,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":549230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/7f627015-c753-4197-8c82-962c9dfcbd4e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82372,74862,75378,90192,74891,75499,76550,113408,92498,4978,117],"class_list":["post-549229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-barry-silbert","tag-bitcoin","tag-cardano","tag-digital-currency-group","tag-ethereum","tag-ethereum-classic","tag-grayscale","tag-polygon","tag-solana","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=549229"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/549229\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/549230"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=549229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=549229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=549229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}