Malte Mueller/Getty Images Digital Currency Group is selling some of its top assets at a steep discount, per the Financial Times. The news comes as the crypto conglomerate's lending unit, Genesis, filed for bankruptcy protection last month. The company told Insider that offloading assets "is simply part of our ongoing portfolio rebalancing." Digital Currency Group is selling shares of its prized investment vehicles to repay its bankrupt lending arm's creditors, according to a Financial Times report.DCG has started to offload holdings at a steep discount from Grayscale, the parent company's asset management arm, according to US securities filings cited by the FT.Grayscale has been a vital part of DCG's business over the years, bringing in hundreds of millions in annual fees managing bitcoin and ethereum in trusts that clients can buy shares of.
Comment on Digital Currency Group is reportedly selling shares from its most prized crypto funds at a steep discount as the digital asset g
mchittum@insider.com (Morgan Chittum), Business Insider
Tue, 02/07/2023 - 8:33am
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