DCG's Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini?

Episode 442

Gemini has accused Digital Currency Group CEO Barry Silbert of fraud after allegedly misrepresenting the financials of his company. The accusations follow a dispute over the return of $900 million in assets owed to Gemini Earn’s users. Karim Dandashy, CFA and portfolio manager at XBTO Group, discusses everything about the ongoing drama between Genesis, its parent company DCG, and Gemini.

Show highlights:

the fraud accusations against DCG CEO Barry Silbert
all the details disclosed in Barry's response
whether Genesis will file for chapter 11 bankruptcy protection
the meaning of the $1.1 billion promissory note being not callable
the EDNY and SEC investigation on transfers between DCG and a subsidiary – potentially Genesis
whether the 1% interest rate charged for the loan was suitable considering the nature of Genesis' business
whether DCG could sell its venture investments to plug the hole
why Bitvavo rejected an offer from DCG to return 70% of the $300 million owed to them
what Karim would do if he was leading DCG

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Guest

Karim:

Previous coverage of Unchained on DCG and Genesis:

Genesis/Gemini:

Podcast Episode Details

DCG's Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini?

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