2022-11-23 23:24:48

DCG's Barry Silbert reveals crypto firm has $2 billion in debt as he tries to calm investors after FTX

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CNBC
By Ari Levy

Key Points

  • In a note to DCG shareholders, Silbert addressed all the noise surrounding the company, indicating that most of its entities are operating as usual.
  • The trading unit Genesis has encountered problems on the lending side due to market turmoil, Silbert wrote.
  • Silbert said the company as a whole is on pace to generate $800 million in revenue this year.

Barry Silbert, Founder and CEO, Digital Currency Group

David A. Grogan | CNBC

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors' nerves after the sudden collapse of FTX.

In a note to shareholders on Tuesday, Silbert addressed all the noise about the financial health of DCG's subsidiaries, which includes trading firm Genesis, Grayscale Investments and mining company Foundry.

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