Disaster looms for Digital Currency Group thanks to regulators and whales
The cryptocurrency tide is flowing out, and it looks more and more like Digital Currency Group (DCG) has been skinny dipping. But let’s be clear: The current crypto contagion isn’t a failure of crypto as a technology or long-term investment. DCG’s problem is one of failure by regulators and gatekeepers.
Since its 2013 inception, DCG’s Grayscale Trust (GBTC), the largest Bitcoin (BTC) trust in the world, has offered investors the ability to earn a high rate of interest — above 8% — simply by purchasing cryptocurrency and lending it to or depositing it with DCG.
Giorgi Khazaradze is the CEO and co-founder of Aurox, a leading DeFi software development company. He attended Texas Tech for a degree in computer science.