Digital Currency Group

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

History[edit]

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

In 2015, Silbert sold SecondMarket to NASDAQ.[3] Shortly after SecondMarket’s sale, Silbert formed Digital Currency Group, with Genesis and Grayscale becoming the first of the company’s subsidiaries.[4]

Subsidiaries[edit]

Grayscale[edit]

Established in 2013, Grayscale is a digital currency investing firm. Grayscale also manages the Grayscale Bitcoin Investment Trust (GBTC), which was the first publicly quoted securities solely invested in, and deriving value from, the price of bitcoin when it launched in 2013.[2] The Trust trades under symbol: GBTC on the OTCQX market, and is only available to accredited investors.[5][6]

CoinDesk[edit]

CoinDesk is a global media, research, and events platform that was acquired by Digital Currency Group in 2016.[7] The company is best known for its coverage of blockchain’s daily news, Bitcoin Price Index and data tools, and its tutorials and research products, including the quarterly State of Bitcoin report. CoinDesk also hosts a conference on digital currencies and blockchain technologies titled Consensus, [8] which was last held in May 2018 in New York City and hosted approximately 8,500 attendees.[9]

See also[edit]

References[edit]

  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. ^ a b Primack, Dan (23 September 2013). "First Bitcoin Investment Fund Launches". Fortune Ledger. Retrieved 29 March 2019.
  3. ^ Roof, Katie (22 October 2015). "NASDAQ Acquires SecondMarket To Help Startups Sell Shares". TechCrunch. Retrieved 29 March 2019.
  4. ^ Tepper, Fitz (27 October 2015). "Barry Silbert Launches Digital Currency Group With Funding From MasterCard, Others". TechCrunch. Retrieved 18 April 2019.
  5. ^ Rosenfeld, Everett (2015-04-01). "For bitcoin, 'golden moment' or fool's gold?". CNBC. Retrieved 2016-05-10.
  6. ^ Casey, Michael J. (2015-03-01). "BIT Poised to Become Publicly Traded Bitcoin Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-05-10.
  7. ^ Matney, Lucas (13 January 2016). "CoinDesk Gets Acquired By Digital Currency Group". TechCrunch. Retrieved 10 May 2016.
  8. ^ Roberts, Daniel (4 May 2016). "The 5 biggest bitcoin and blockchain announcements at Consensus". Yahoo Finance. Retrieved 10 May 2016.
  9. ^ Rooney, Kate; Chang, Evelyn (14 May 2018). "New York cryptocurrency conference triples in size, tracking for $17 million in ticket sales". CNBC. Retrieved 25 April 2019.