Did Barry Silbert safeguard his personal funds at the expense of DCG?
It’s been alleged that paperwork filed by Digital Currency Group (DCG) and its subsidiaries reveals concerning details about the personal finances of founder Barry Silbert. According to financial data analyst DataFinnovation, the documents reveal a little-known asset management portfolio company with only one significant client — rumored to be Silbert. Documents also apparently disclose a curious sum that Gemini Earn received from selling collateral from loans made to Genesis, a DCG portfolio company. In short, it’s possible that a portfolio company of Silbert’s DCG — whose sole high-net-worth client was likely Silbert himself — managed billions of dollars of personal fortune, lent Genesis over $1 billion, and preferentially got over $1 billion back amid the collapse of Three Arrows Capital (3AC) . Protos hasn’t been able to independently confirm that the high-net-worth client is, in fact, Barry Silbert. Nor has Protos corroborated the other a...