Digital Currency Group
Corporate brand
UnclaimedA private investment company focused on digital assets, blockchain infrastructure, and decentralized technologies.
Last updated November 4, 2026
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Overview
Digital Currency Group (DCG) is an American private investment company focused on digital assets, blockchain infrastructure, and decentralized technologies. Barry Silbert established the company in 2015 after the acquisition of his financial-technology business, SecondMarket, by Nasdaq. Silbert had begun investing in blockchain businesses before DCG was formed and had launched the Bitcoin Investment Trust, an early investment vehicle designed to provide public-market exposure to bitcoin. DCG developed as a holding and venture-investment group rather than as a consumer-facing cryptocurrency brand. Its activities have included venture investments, asset management, institutional cryptocurrency trading and lending, mining infrastructure, exchange services, digital-asset media, and newer initiatives involving decentralized artificial intelligence. The group’s best-known businesses have included Grayscale Investments, Genesis, Foundry, Luno, and CoinDesk. Its portfolio also included investments in companies such as Coinbase, Kraken, Circle, Chainalysis, Dune Analytics, Elliptic, and Etherscan. By November 2021, DCG said it had made more than 200 investments, while reporting in early 2023 described a portfolio containing more than 160 companies. Grayscale became DCG’s most prominent operating subsidiary. The asset manager created cryptocurrency investment products for institutional, accredited, and public-market investors, including the Grayscale Bitcoin Trust. In 2023, Grayscale won a significant United States court decision concerning the Securities and Exchange Commission’s rejection of its application to convert the Bitcoin Trust into an exchange-traded fund. The SEC subsequently approved the conversion of GBTC into a spot bitcoin ETF in January 2024, and approved Grayscale’s spot ether products later that year. Genesis, another early DCG subsidiary, operated an institutional cryptocurrency trading, lending, and custody business. Its exposure to losses connected with Babel Finance and Three Arrows Capital during the 2022 cryptocurrency downturn, followed by the collapse of FTX, contributed to a severe liquidity crisis. Genesis suspended withdrawals and new loans in November 2022 and filed for Chapter 11 bankruptcy protection in January 2023. The subsequent proceedings produced litigation and restructuring negotiations involving DCG, Genesis creditors, and Gemini users. A restructuring plan was approved in 2024, and Genesis began creditor distributions later that year; Genesis Global Capital was reported as defunct by January 2025. DCG also owned CoinDesk, a cryptocurrency news, research, and events business acquired in 2016. CoinDesk explored a sale in 2023 and was sold to Bullish in an all-cash transaction in November of that year. TradeBlock, an institutional trading platform associated with DCG, was shut down in May 2023 amid what the company described as a difficult macroeconomic, regulatory, and cryptocurrency environment. In 2020, DCG acquired the London-based cryptocurrency exchange Luno. Foundry, established in 2019, provides mining-pool, equipment, financing, and operational services, and helped move substantial mining equipment from China to North America after China’s 2021 mining crackdown. DCG moved its headquarters from Manhattan to Stamford, Connecticut, in 2021. The relocation was supported by state incentives tied to potential job creation. In November 2024, the group launched Yuma, a decentralized artificial-intelligence company intended to provide capital and technical resources for applications built on the Bittensor blockchain, with Silbert serving as its chief executive. In January 2025, Foundry’s self-mining operation was separated into Fortitude Mining, a wholly owned subsidiary focused on self-mining bitcoin and other digital assets. The company’s public profile has been shaped both by its investment role in the digital-asset economy and by the financial and legal consequences of the Genesis crisis…
History
DCG was founded in 2015 by Barry Silbert after Nasdaq acquired SecondMarket, the financial-technology company he had previously led. Silbert had entered the blockchain sector earlier, investing in cryptocurrency businesses from 2013 and creating the Bitcoin Investment Trust. Grayscale Investments and Genesis were among DCG’s first subsidiaries, establishing the group’s initial focus on digital-asset investment products and institutional cryptocurrency services. The company expanded through operating subsidiaries and venture investments. Grayscale developed funds and trusts providing exposure to cryptocurrencies, while Genesis supplied institutional trading, lending, and custody services. DCG acquired CoinDesk in 2016, adding a media, research, and events platform, and established Foundry in 2019 to support cryptocurrency mining operations. In 2020, it acquired Luno, a London-based exchange formerly known as BitX. By 2021, the group reported more than 200 investments in cryptocurrency companies and moved its headquarters from Manhattan to Stamford, Connecticut, with potential state support connected to employment commitments. The market downturn of 2022 exposed vulnerabilities in parts of the group’s operating structure. Genesis disclosed losses associated with loans to Babel Finance and Three Arrows Capital. Its parent, DCG, assumed some Genesis obligations, but the collapse of FTX later that year caused Genesis to halt withdrawals and new lending. Genesis filed for Chapter 11 in January 2023. DCG and creditor groups negotiated proposals involving the transfer of Genesis equity, refinancing of intercompany obligations, and replacement of a promissory note with preferred equity. Negotiations were accompanied by disputes, missed-payment reports, and lawsuits. The Genesis crisis produced broader legal consequences. Gemini sued DCG over the Gemini Earn arrangement, and the New York attorney general later brought claims against DCG, Gemini Trust, and Genesis Capital alleging that investors were misled about risk, returns, and losses. DCG rejected the allegations. A revised restructuring agreement was reached in 2023, and a bankruptcy plan was approved by the United States Bankruptcy Court for the Southern District of New York in 2024. Genesis completed its restructuring later that year and began distributing assets to creditors. During this period, DCG reduced or changed parts of its portfolio. It closed TradeBlock in May 2023, citing the weak economy, the prolonged cryptocurrency downturn, and regulatory conditions. CoinDesk explored strategic alternatives and was sold to Bullish in November 2023. DCG also made management changes, including appointing Mark Shifke as chief financial officer in 2023. Grayscale remained a central asset, winning a 2023 court decision over its proposed spot bitcoin ETF and receiving SEC approval for the GBTC conversion in January 2024. Grayscale’s spot ether products received approval in July 2024. DCG continued to develop new technology-focused businesses. It launched Yuma in November 2024 as a decentralized artificial-intelligence company supporting applications on Bittensor, with Barry Silbert as CEO. In January 2025, Foundry’s self-mining activities were separated into Fortitude Mining, a wholly owned subsidiary focused on bitcoin and other digital-asset mining. The group therefore evolved from a venture investor into a diversified digital-asset holding company whose businesses span asset management, mining, exchange services, infrastructure, and decentralized technology, while its reputation and structure remain closely connected to the Genesis bankruptcy and related litigation.
- 2025
Fortitude Mining spun off
[1]Foundry’s self-mining operation became Fortitude Mining, a wholly owned DCG subsidiary.
- 2024
GBTC converted into spot bitcoin ETF
[1]The SEC approved Grayscale’s conversion of its Bitcoin Trust into a spot bitcoin exchange-traded fund.
- 2024
Yuma launched
[1]DCG launched Yuma to support decentralized artificial-intelligence applications on Bittensor.
- 2023
Genesis enters Chapter 11
[1]Genesis Global Capital filed for bankruptcy protection after suspending withdrawals and new lending during the cryptocurrency liquidity crisis.
- 2023
Grayscale wins SEC-related court case
[1]A court ruled in favor of Grayscale’s petition concerning conversion of GBTC into a spot bitcoin ETF.
- 2023
CoinDesk sold to Bullish
[1]DCG sold CoinDesk to Bullish in an all-cash transaction.
- 2021
Headquarters moved to Stamford
[1]DCG relocated its headquarters from Manhattan to Stamford, Connecticut.
- 2020
Luno acquired
[1]DCG acquired London-based cryptocurrency exchange Luno, formerly known as BitX.
- 2019
Foundry established
[1]DCG established Foundry to provide cryptocurrency mining operations, financing, equipment, and technical services.
- 2016
CoinDesk acquired
[1]DCG acquired CoinDesk, expanding into cryptocurrency journalism, research, indexes, and industry events.
Products and positioning
A global private investment and operating group focused on digital assets, blockchain infrastructure, and decentralized technology.
Digital-asset asset management · 2013
Grayscale Investments
Grayscale manages investment products giving institutional, accredited, and public-market investors exposure to digital assets. Its products have included the Grayscale Bitcoin Trust, ether products, cryptocurrency trusts, and diversified digital-asset funds. GBTC became a reporting company and later converted into a spot bitcoin ETF after regulatory and court proceedings. Grayscale also received approval for spot ether exchange-traded products in 2024.
Institutional cryptocurrency trading, lending, and custody · 2013
Genesis
Genesis operated an institutional digital-asset trading, lending, and custody platform serving financial institutions and high-net-worth clients. It disclosed losses connected with loans to Babel Finance and Three Arrows Capital during the 2022 market crisis, suspended withdrawals in November 2022, and filed for Chapter 11 in January 2023. Its restructuring was completed in 2024, while Genesis Global Capital was later reported as defunct.
Cryptocurrency exchange · 2013
Luno
Luno is a London-based cryptocurrency exchange founded as BitX by South African entrepreneurs. It provides cryptocurrency buying, selling, and related exchange services across international markets. DCG acquired the company in 2020, when Luno reportedly had more than five million customers.
Cryptocurrency media and events · 2016
CoinDesk
CoinDesk is a digital-asset news, research, index, and events platform. Its activities have included daily blockchain reporting, bitcoin price data, industry research, and the Consensus conference. DCG acquired it in 2016 and sold it to Bullish in 2023.
Decentralized artificial intelligence · 2024
Yuma
Yuma is a DCG-founded company intended to provide capital, technical resources, and development support for decentralized artificial-intelligence applications built on the Bittensor blockchain. Barry Silbert became its CEO at launch in November 2024.
Digital-asset mining · 2025
Fortitude Mining
Fortitude Mining is a wholly owned subsidiary created from Foundry’s self-mining unit. It focuses on self-mining bitcoin and other digital assets regarded by the company as having long-term growth potential.
Controversies
2023
Genesis and Gemini Earn investor dispute
DCG became involved in litigation and regulatory allegations arising from the failure of Genesis’s lending business and the Gemini Earn program. The New York attorney general alleged that DCG, Genesis, and Gemini misled investors about the safety and performance of investments and concealed losses. DCG denied the allegations and said it would contest the claims.
Brand decisions
2025
Separate Fortitude Mining from FoundryStrategyBackground
DCG reorganized its proprietary mining activities within its broader mining-infrastructure business.
Action taken
Foundry’s self-mining unit was spun off into Fortitude Mining, a wholly owned subsidiary.
Aftermath
Fortitude Mining became the group’s dedicated vehicle for self-mining bitcoin and other digital assets.
2024
Launch YumaProduct launchBackground
DCG sought to expand beyond conventional cryptocurrency finance into decentralized artificial intelligence and the Bittensor ecosystem.
Action taken
The group launched Yuma in November 2024 to provide capital and technical resources for Bittensor applications.
Aftermath
Barry Silbert became Yuma’s chief executive while remaining associated with DCG leadership.
2023
Close TradeBlockStrategyBackground
DCG cited economic weakness, the prolonged cryptocurrency downturn, and a difficult United States regulatory environment for digital assets.
Action taken
The company shut down TradeBlock, its institutional digital-asset trading platform, on May 31, 2023.
Aftermath
The closure formed part of a broader reduction and restructuring of DCG activities during the Genesis crisis and cryptocurrency bear market.
2023
Sell CoinDeskM&ABackground
CoinDesk explored strategic options while DCG faced pressure to raise liquidity and simplify its portfolio.
Action taken
DCG sold CoinDesk to Bullish in an all-cash transaction in November 2023.
Aftermath
CoinDesk continued under Bullish ownership rather than remaining part of the DCG group.
Recent events
Reported
Joystream raises $5.85 million[3]
Joystream announced that it had raised $5.85 million in its latest funding round, bringing its total funded amount to $13 million and its valuation to $60 million.
Reported
Hack VC announces a $200 million crypto seed fund[4]
Hack VC announced a $200 million crypto seed fund intended to invest in early-stage cryptocurrency and Web3 teams. The article says the fund includes investments from several venture-capital firms and investors.
Reported
Pawnfi.com raises $3 million in strategic funding[5]
Pawnfi.com raised $3 million in a strategic funding round led by Digital Currency Group, with Animoca Brands and other investors also participating.
Reported
Digital Currency Group acquires Luno[6]
South African-founded cryptocurrency exchange Luno was acquired by Digital Currency Group (DCG); financial terms were not disclosed.
Reported
Skew secures $5 million investment[7]
Skew announced that it secured $5 million in an investment round led by Octopus Ventures, with participation from Digital Currency Group, Firstminute Capital and Seedcamp. The funds will be used to expand its London engineering team and strengthen its distribution capabilities.
Reported
Zabo secures $2.5 million in funding[8]
Zabo secured $2.5 million in funding in a round led by Moonshots Capital, with Blockchange Ventures, Castle Island Ventures, Digital Currency Group, CoinShares, Tezos Foundation, and Capital Factory also participating. Zabo said it would use the funds to promote cryptocurrency adoption and expand its engineering team.
Sources9 sources
- 1Digital Currency Groupen.wikipedia.org
- 2Digital Currency Group official websitedcg.co
- 3Joystream筹集585万美元coinspeaker.com
- 4Hack VC 宣布推出 2 亿美元加密货币种子基金news.bitcoin.com
- 5Pawnfi.com 获得 300 万美元战略融资coinspeaker.com
- 6Digital Currency Group 收购 Lunonairametrics.com
- 7Skew获得500万美元投资crowdfundinsider.com
- 8Zabo 获得 250 万美元融资crowdfundinsider.com
- 9SA cryptocurrency exchange Luno has been acquired by the Digital Currency Groupiol.co.za
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