Digital Currency Group

Digital Currency Group (DCG) is an venture capital company focusing on the digital currency market. It is located in New York City.[1]

History

Digital Currency Group was launched[2] in 2015 by Barry E. Silbert, who previously founded SecondMarket, Inc.. He began investing in bitcoin companies in 2013, first as an angel investor, and provided funding for many of the earliest companies including Coinbase, BitPay, and Ripple.

Digital Currency Group was formed when two businesses built under the SecondMarket parent company – Genesis Global Trading, a bitcoin OTC trading firm, and Grayscale Investments, a digital currency asset management firm that manages the publicly traded Bitcoin Investment Trust (Symbol: GBTC) – were combined with seed investments founder Barry Silbert had made in the bitcoin and blockchain space.

Subsidiaries

Grayscale

Established in 2013, Grayscale is a digital currency investing firm. It manages the Bitcoin Investment Trust (BIT), provides titled, auditable bitcoin exposure through a traditional investment vehicle. BIT shares are the first publicly quoted securities solely invested in, and deriving value from, the price of bitcoin. The Trust trades under symbol: GBTC on the OTCQX market, and is only available to accredited investors.[3][4]

Genesis Trading

Genesis Global Trading, Inc. is an institutional trading firm offering two-sided liquidity for digital currency, including bitcoin. Since September 2013, Genesis has traded over 1,250,000 Bitcoin (BTC), worth over $500 million United States Dollars, and has completed over 6,000 trades.

CoinDesk

CoinDesk is a global media, research, and events platform that was acquired[5] by Digital Currency Group in 2016. The company is best known for its balanced coverage of blockchain’s most relevant daily news, its commonly cited Bitcoin Price Index and data tools, and its tutorials and research products, including the quarterly “State of Bitcoin” report. CoinDesk also hosts a large industry conference on digital currencies and blockchain technologies titled Consensus,[6] which was last hosted in May 2016 in New York City, and hosted over 1,500 attendees.

References

  1. ↑ Vigna, Paul (2016-04-28). "Bitcoin-Focused Investment Firm Brings On Western Union, Lawrence Summers". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-05-10.
  2. ↑ Shin, Laura. "MasterCard, Bain Capital Ventures, New York Life Invest In Bitcoin Company Digital Currency Group". Forbes. Retrieved 2016-05-10.
  3. ↑ Rosenfeld, Everett (2015-04-01). "For bitcoin, 'golden moment' or fool's gold?". CNBC. Retrieved 2016-05-10.
  4. ↑ Casey, Michael J. (2015-03-01). "BIT Poised to Become Publicly Traded Bitcoin Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-05-10.
  5. ↑ Matney, Lucas. "CoinDesk Gets Acquired By Digital Currency Group". TechCrunch. Retrieved 2016-05-10.
  6. ↑ "Here's the biggest bitcoin and blockchain news this week". Yahoo Finance. Retrieved 2016-05-10.
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