Genesis and its subsidiaries are owned by Barry Silbert’s Digital Currency Group (DCG) which also owns the CoinDesk news platform. It was CoinDesk that first reported about the poor financial health of FTX.
“f you haven’t heard of Barry Silbert, then you’re not alone. Although he’s an active presence on Twitter with over 220,000 followers, his name doesn’t crop up with regularity. This is strange because he’s behind nfluential entities in the crypto space and has invested in some of its best-known projects.
Silbert is the founder and CEO of the venture capital firm Digital Currency Group (DCG), which describes itself as ‘the epicenter of the bitcoin and blockchain industry.’ The company has invested in numerous crypto and blockchain projects, many of which are... Brave Software, Coinbase, Ledger, Ripple, Zcash and many, many more. DCG also has a number of subsidiaries that are themselves big industry players. These include asset management company Grayscale, as well as the blockchain news and info platform CoinDesk.