It'll be OK: DCG crisis likely won’t ‘include a lot of selling’ — Novogratz
10 Jan, 2023
By FELIX NG
Digital Currency Group’s ongoing financial distress isn’t likely to cause much further strain on crypto prices, said Novogratz.
Galaxy Digital Holdings CEO Mike Novogratz hosed down fears over the crisis facing Digital Currency Group (DCG) and Genesis saying while it’s “not good news,” it won’t “include a lot of selling.”
In a Jan. 10 interview on CNBC’s Squawk Box Novogratz said he expects the current debacle facing DCG and its related companies to “play out” over the next quarter.
“There are still some overhangs — DCG and Genesis and Gemini — that will play out in the next quarter. That’s not going to be great,” said Novogratz, adding:
“I don’t think it will include a lot of selling, it's just not good news.”
DCG is a major crypto conglomerate known as the owner and operator of Grayscale Investments, the world’s biggest digital asset manager.
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