The ownership chain, stated plainly
Digital Currency Group, Inc. is described in the New York Attorney General's amended complaint as "a Delaware corporation doing business in the State of New York", with an office at 262 Harbor Drive, Stamford, Connecticut. It is a holding company. What matters about it is what sits underneath.
- Grayscale. Grayscale's registration statement, amended in January 2026, names DCG as "our controlling shareholder" and states that DCG will control any action requiring shareholder approval. The same document names Barry Silbert, DCG's chief executive, as Grayscale's founder and the chairman of its board.
- Foundry. A mining pool and mining services business, listed by DCG among the businesses it owns.
- Genesis. DCG wholly owned the Genesis entities, which filed for bankruptcy in January 2023. They are former subsidiaries.
- CoinDesk. DCG owned it until the CoinDesk businesses were acquired by Bullish in November 2023, which Bullish's own annual report records.
DCG's site, read on 21 August 2026, still shows Genesis and CoinDesk among the businesses it presents as owned. Both of those are out of date, which is a reason to prefer filings over a marketing page for a question about who owns what.
No founded year is given, because no primary record of DCG's incorporation date was
opened for this entry. DCG's own site says only "Investing since 2012".
On the record
What the SEC decided. On 17 January 2025 the SEC announced that DCG and Soichiro "Michael" Moro, former chief executive of Genesis Global Capital, would pay a combined $38.5 million in civil penalties over statements about Genesis's financial condition after Three Arrows Capital defaulted on a margin call in June 2022. In the Commission's words, "DCG and Moro, however, downplayed the impact of the approximately $1 billion loss and exaggerated what DCG did to help Genesis in the aftermath."
The disposition matters as much as the finding. Without admitting or denying the SEC's
findings that they violated Section 17(a)(3) of the Securities Act of 1933, DCG and Moro
agreed to a cease-and-desist order and to civil penalties of $38 million and $500,000
respectively. Section 17(a)(3) is a negligence provision. Nobody admitted anything, and no
court made a finding, which is why this entry carries Scandal and not Fraud.
What the New York Attorney General alleged. In October 2023 the Attorney General brought charges against Gemini, the Genesis entities, Genesis Capital's former chief executive, DCG and Silbert, alleging violations of the New York Penal Law, General Business Law and Executive Law, and amended the complaint in February 2024 to cover additional investors. Those are allegations.
What was settled, and by whom. The Genesis entities settled with the Attorney General, a settlement approved by the bankruptcy court in May 2024, and that settlement records that Genesis neither admits nor denies the allegations. Gemini settled separately. DCG and Silbert did not. Grayscale's January 2026 filing states that they remain subject to civil litigation arising out of the same facts, and separately that in May 2025 the Genesis Litigation Oversight Committee sued DCG, Silbert and others in the Delaware Court of Chancery and in the bankruptcy court, seeking recovery in kind of roughly $2.2 billion in digital assets. As of the most recent filing opened for this entry, those matters are pending and nothing in them has been decided. Listing is not endorsement, and an unresolved allegation is not a finding.