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I think the suit was just filled today. The suit also includes Genesis (also owned by DGC) and Gemini.
Please back your claim, all I can find is that DGC made an investment into Foundry which is now the second biggest mining pool. It sounds almost like saying that Antminer owns alm Bitcoin mining because they make the miners themselves, would be like saying that Intel owns your computer and Qualcomm your Android phone.
Yeah they’re funded by DGC, so they don’t exactly qualify as a “competition”.
Genisis missing funds are pure “fantasy” - DGC
How funny would it be if the Gold Conglomerate came out with a Digital Gold Coin (DGC)?
Bitcoin doesn't need an ETF. DGC is cancer. Fuck them.
There are some pretty big things that need to resolve before we can trust a bull run. The Genesis / DGC / Grayslake thing needs to resolve. Fidelity just fired up their Crypto trading, though, and that's a monster market.
Is my understanding correct that DGC is Genesis and it owns Grayscale? Grayscale has the crypto trusts and something like 200,000 BTC? Do we worry that they'll be able to sell some of the Grayscale assets to cover their liabilities?
seems like FTX/SBF/DGC was responsible for like 50% of the movement in the last year
If Genesis or DGC go bankrupt, what kind of impact will that have on crypto?
Well, according to the SEC, each of these GBTC, ETHE, and all are independent LLCs. GrayScale itself is independent and unencumbered by whatever umbrella company (DGC? DCG?) that oversees all. The SEC approved these trust funds and GrayScale would be committing fraud to have NOT invested our funds in the assets they promised to acquire for us. These are after all in the SEC regulated sphere, and they are publicly traded trusts now. GrayScale has a fiduciary duty to their investors. What is baffling is they have yet to provide evidence that they actually used our money to purchase the underlying assets. This action alone in light of all that has happened in the markets is a breach of their duty. And it has caused a panic, which has driven the valuation of GBTC and ETHE down to less than half the valuation of the supposedly acquired underlying assets. This is greatly harming investors of all sorts. Many of us are not "crypto traders", we've merely diversified our holdings for retirement accounts, college savings funds, and other normal investments into technology funds like these, and we did so understanding the volatility of the underlying technology and markets because well, hey, tax deferred accounts and SEC regulated. Furthermore, GrayScale executives are becoming obscenely wealthy through this fiasco, as the funds trade at more than 50% discount to NAV... YET they continue to charge a 2.5% "management fee" on the valuation of the underlying assets vs. the valuation of the funds themselves. This means that fee is actually far greater, they are enriching themselves by the mere act of NOT proving the spent our funds on what they promised within these SEC regulated trusts. THAT is a huge breach of their legal responsibility and it smells of fraud to me. It smells no different than FTX shitstorm. Even worse, now that we've all lost over half of the value of our investments in ETHE and GBTC, they speak of offering redemptions on just 20% of what they've taken. At this point they need to do two things, and the SEC merely needs to do its fucking job since they are the "regulators" of such things. 1. Provide hard audited 3rd party evidence that they used our funds appropriately, not just for their most popular GBTC, but for ETHE, and every single other fund they are bleeding down for their personal gain/salary/enrichment right now. 2. Offer full redemption on the shares we all have. Some may want out, but many will stay in IF they provide the necessary proof that they have not committed fraud AND valuations return to NAV Anything short of that is just pure robbery, plain and simple. Everything they've said so far has just been stalling tactics to extract and rob us even more. Most of their investors are likely at a +50% loss now, and worsening every day, while ETH, and BTC are actually recovering. Some are in an even worse position. And the SEC is just doing... I don't know what the SEC is doing, blathering about wanting more regulatory power over more things, and they can't even handle the very funds and stocks and other things they claim to "regulate" right now.
Genesis and DGC is silent for a long time now, let’s hope we are not expecting another crash
So DGC borrowed money from Genesis and put up the Grayscale trust as collateral and then used most of the money to buy more shares in Grayscale..... I'm pretty sure if I try to do this I will be accused of fraud somewhere along the line......
Someone shared this here few hours ago: https://degentrading.substack.com/p/genesis-chapter-11 DGC is the company behind Genesis / DCG / Grayscale / coinbase... It can get ugly
tldr; Crypto lender Genesis Global has outstanding loans of $2.8 billion on its balance sheet, with around 30% of lending made to related parties, including parent company Digital Currency Group, Bloomberg reported, citing people familiar with the matter. The loans were used to "fund investment opportunities and to repurchase DGC stock from non-employee shareholders in secondary transactions," the company's CEO Barry Silbert said. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> These loans were always structured on an arm's length basis and priced at prevailing market interest rates." Silbert said DGC currently has a liability to Genesis of around $575 million, due in May 2023 Get your shitpost ready lads. May is right around the corner
Both Genesis and Greyscale are owned by DGC company. [https://en.wikipedia.org/wiki/Digital\_Currency\_Group](https://en.wikipedia.org/wiki/Digital_Currency_Group)
I don’t think that’s all there is to it. People think it’s going insolvent and are pulling their money. We’ll see what happens in the coming weeks. There are a lot of reports about DGC and all it’s entities begging for money and getting denied. Not a good sign
The problem is not just them owning the bitcoin ( let’s just assume and hope they do ) it’s also genesis. Genesis needs a $1bn bailout. Worst case DGC has to Liquidate part of their trust to bail them out. That could lead to the potential cascade & domino effect causing a horrible time for crypto. But that’s just a big **IF** so let’s hope it doesn’t go that far
Interesting take on DGC, worst case scenario: https://twitter.com/LawrenceLepard/status/1594007014174519296
DGC will be a fair try Before you give me downvote DGC means degeneration gambler choice. Because Reddit user's are hilarious
DGC owns hundreds of crypto firms, including Grayscale. DGC also owns [coindesk.com](https://coindesk.com). I wonder if they will post positive or negative articles? Something to consider friends
Radix DogeCube. The original memecoin on Radix with 175 DGC airdrop each weekend (out of 8 billion fixed supply). There are already many DGC millionaires. Download Radix wallet and participate in the weekend events. Listing January 7.
Barry Silber has his fingers in a few pies, one being the founder and CEO of DGC and Greyscale. When he tweets 'Friends don't let friends buy and hold futures-based ETFs' it says a lot. I can see the price doubling from here in the short terms but I question how much of that price action is ETF based.
I still have Digital Coin (DGC) was worth over a bitcoin once. So sad I didn't sell!
There was a coin called Digicoin (DGC). While all my friends were mining Doge, I was mining Digicoin because I believed in it. I thought it had the perfect name, the transactions were faster than bitcoin (speed was everything I thought...)
He’s the founder of DGC ie digital Currency group supposedly the parent of coindek
$DGC ICO soon! Buy now, it’s hard to get!
The dev wallet owns **100.00%** of the [DGC/BNB LP Supply](https://bscscan.com/token/0x072906BF5b726441C9ad4a3F602Ffb88aC722929#balances)
I am adding some gaming blockchain projects as well to my portfolio this year apart from polka-dot projects. Exeedme, DGC etc
2013 top 10 DGC looks like it's back from the dead. +1,500% in two weeks and still dirt cheap. [https://www.digicoin.cc](https://www.digicoin.cc/)
someone pointed out that it's the parent company DGC purchasing shares....not GBTC selling of BTC to raise money
It's the parent company DGC purchasing $250 million worth of shares, supporting the share price. :)
tldr; Digital Currency Group is set to buy $250 million worth of shares in Grayscale Investments’ Bitcoin Trust. The timing, amount and value of shares that are purchased will be dictated by various factors, including the amount of cash DGC has on hand, the price of Bitcoin and the GBTC Trust. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Exeedme is one of the first to join the [DeFi Gaming Coalition or DGC](https://exeedme.medium.com/exeedme-is-one-of-the-first-members-of-defi-gaming-coalition-5fe6320e0abb) other members are AnRKey X, Certik, Ferrum Network, and Digicol and the recently added Matic Network, Royale Finance, and Bondly to form Defi Gaming Coalition! This is huge news, that many didn't mind to take into consideration. Imo partnership have a greater meaning than people give credit
Very interested. Downloaded the Digibyte app and created a GitHub account. Is DGC mineable? Is it available on an exchange?
> I'm confused how listing ETC on an exchange is a direct attack to the ETH community? Barry Silbert (Greyscale) owned Poloniex(or his DGC did, cant recall exactly) at the time of the DAO hack/hardfork, he was a huge BTC maxilmalist, one of the leading and more vocal voices against all other projects besides Bitcoin. After the DAO hardfork he all of a sudden voiced his support for ETC and was the first and only exchange to list ETC out of the blue. It was definitely motivated solely to split the ETH community further. > > Mantis was developed by IOHK aka Charles Hoskinson. He continues to work with ETC because its essentially a testbed for Cardano and interoperability. It has been a while since Mantis was released and I don't work at IOHK so I can't say exactly where his time his spent. If by interoperability you mean trying his best to have his engineers suck everything and everyone away from Ethereum then ya i can see your point about using ETC still. > Charles was the only one of the founding 7 or 8 that didn't take an original payment. Seeing how the Japanese ICO was handled I dont think anyone can raise this guy up as a paragon of virtue.