The Wall Street Journal

Crypto Billionaire Accused of Defrauding Creditors, Propelling Industry’s 2022 Collapse

Creditors’ lawsuits allege the crypto winter began earlier than believed, and with actions by Digital Currency Group’s founder, Barry Silbert

Crypto entrepreneur Barry Silbert speaking at a conference.
Crypto entrepreneur Barry Silbert speaking at a conference. Photo: Heidi Gutman/CNBC/NBCU/Getty Images

In the depths of the brutal 2022 meltdown in the digital-assets market, billionaire crypto entrepreneur Barry Silbert had a message for investors like Mark Cuban who were worried about getting wiped out: Stay calm, your money is safe, we’re solid.  

His own actions didn’t show the same confidence, according to new filings in lawsuits filed by creditors of Silbert’s now-bankrupt lending business, Genesis Capital. 

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