Crypto behemoth Digital Currency Group (DCG) is one of the biggest players in the crypto industry.

The conglomerate has roughly 200 companies in its portfolio. One of the best known is Grayscale, manager of the eponymous Grayscale Bitcoin Trust. It’s world’s largest Bitcoin fund which opened the door to institutional investors as a private trust in 2013 and got approval to trade publicly under the GBTC ticker in 2015.

But DCG has run into a lot of trouble since the crypto crash of last year. Genesis Global, its digital asset lender, went bankrupt in January, then last month announced it would cease all operations.

And this week, the New York Attorney General’s office hit DCG, its subsidiary Genesis Global Capital, and crypto exchange Gemini Trust, alleging the companies defrauded customers of $1.1 billion.

Here’s a breakdown of DCG and how it got to where it is now.

2015 — Founding and first fundraiser

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Author: Mathew Di Salvo

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