The crypto community woke to another drama-filled day after the Digital Currency Group (DCG) chief’s letter to shareholders went wrong. DCG CEO, Barry Silbert, penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing fear, uncertainty and doubt (FUD) around the company. DCG is the parent company of crypto lending firm Genesis Global Capital and Grayscale, the world’s leading crypto asset manager.
In the letter, Silbert addressed the growing issues around DCG and its subsidiaries owing to the bear market and FTX contagion. He said that bad actors and the implosion of leading crypto companies had wreaked havoc on the industry. He noted, “DCG and many of our portfolio companies are not immune to the effects of the present turmoil.”
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