Hey Guys,
The crypto Grim Reaper has been visiting a lot of doors. Luna, 3AC, Celsius, Voyager, FTX and now it's coming close to the door of Genesis.
The only problem is that once that reaper breaches the door to Genesis then it could also have a line of sight on DCG and its subsidiaries…
For those that don't know, DCG (Digital Currency Group) is one of the largest crypto conglomerates out there and they also operate the Grayscale trust company.
This is concerning because Grayscale's GBTC holds over 650,000 Bitcoin! There are worries out there that should DCG be caught up in a Genesis collapse, then creditors could have claims against other DCG assets.
Could this force DCG to sell their shares in GBTC (67 million of them)? Or could they apply for Reg M relief? Or could they do the unthinkable and unwind GBTC entirely?
In my video today, I take a deep dive into the DCG, Genesis & Grayscale nexus. I analyse some of the reckless lending Genesis got involved in with 3AC and why this has created a massive problem for DCG today.
I also look at some of the potential options for DCG to raise capital and what impact this could have on the crypto markets.
This you don't want to miss!
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⛓️ 🔗 Useful Links 🔗 ⛓️
DCG Coinincidences: https://datafinnovation.medium.com/3a…
Degen Trader Post: https://degentrading.substack.com/p/g…
Ryan Selkis Tweets: https://twitter.com/twobitidiot/statu…
3AC Drags Down: https://www.cnbc.com/2022/07/11/how-t…
Genesis Sought Loan: https://www.wsj.com/livecoverage/stoc…
DCG 10bn Valuation: https://www.coindesk.com/business/202…
Silbert Commentary: https://twitter.com/fintechfrank/stat…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
