The publicly traded shares of Grayscales Bitcoin Trust (GBTC) offered investors access to Bitcoins upsidebut without having to actually buy and store the digital currency, which many were prohibited from doing. This is a profile preview from the PitchBook Platform. Barry Silbert, founder and CEO of Digital Currency Group Joe BuglewiczBloomberg/Getty Images Silbert responded by saying that he did not borrow $1.675 billion, and that he "never missed an. You can find a list of additional resources atSpeakingOfSuicide.com/resources. "He has proven himself unfit to run DCG and unwilling and unable to find a resolution with creditors that is both fair and reasonable," the letter said. DCGs other big-name subsidiary is news site CoinDesk, which was originally launched way back in May 2013 by Spotify advisor and angel investor Shakil Khan. A crypto conglomerate, with tentacles in nearly every corner of the industry. "It's bigger than almost anything else we could imagine,"James Malcolm, head of foreign exchange and crypto research at UBS Investment Bank, told Bloomberg. Cameron Winklevoss, who co-founded crypto exchange Gemini Trust Co. with his twin brother Tyler Winklevoss, has accused Digital Currency Group's (DCG) CEO Barry Silbert of "bad faith stall tactics," asking him to resolve matters related to $900 million worth of disputed customer assets by January 8, 2023. The enshittification of apps is real. If you're . That is all to say Silbert may really be worth nothing, considering the debts, although he did buy ETC at 50 cent in 2016. Premium access for businesses and educational institutions. The conglomerate also owns trade publication Coindesk, crypto mining firm Foundry Services, crypto index provider TradeBlock, and digital asset platform Luno Global. The heated back and forth between . Read More: Silbert's Once-$10 Billion Crypto Empire Is Showing Cracks For its part, DCG has said it's insulated from the troubles at Genesis. Although hes an active presence on Twitter with over 220,000 followers, his name doesnt crop up with the same regularity as those mentioned above. Investopedia requires writers to use primary sources to support their work. The company aims to accelerate the development of the global financial system by building and supporting bitcoin and blockchain companies. In addition, Cameron accuses Barry of using NAV trade tactics, which Barry personally benefits from. "It has been challenging to have my integrity and good intentions questioned after spending a decade pouring everything into this company and the space with an unrelenting focus on doing things the right way," he said. BTCUSD, DCG is facing headwinds with the rest of the industry, however, with reports surfacing of Genesis' looming bankruptcy and a federal investigation into the crypto conglomerate. Where is he? Expert insights, analysis and smart data help you cut through the noise to spot trends, Forbes, which specializes in estimating net worth, says that Silbert is now worth zero, down from $3 billion. We support credit card, debit card and PayPal payments. We also reference original research from other reputable publishers where appropriate. 2023 PitchBook. In the early days everybody kind of celebrated it, recalls Mike Belshe, CEO of crypto custodian BitGo. There is barely a big crypto project out there that hasnt benefitted from his input and, as the sector continues to expand, its a good bet that he will be one of the main driving forces behind it. Presuming however he did with ETC same as with bitcoin, using them to bootstrap the Ethereum Classic Trust, they would be worth just about $100 million even if no one else invested in this trust. He holds a lot of Bitcoin and has invested extensively in Bitcoin and blockchain-related companies, having made more than 200 investments through Digital Currency Group. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Originally headquartered in Singapore, it is now based in London and initially received funding from DCG back in 2014. Thats about 16,000 bitcoin worth $250 million, or circa just 10% of the debt DCG owes. Barry Silbert is the CEO of Digital Currency Group, the crypto conglomerate that owns Genesis and Grayscale. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Our ski trip made me question my life choices, Michelle Yeoh: Finally we are being seen, Apocalypse then: lessons from history in tackling climate shocks. DCG CEO, Barry Silbert, penned a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing fear, uncertainty and doubt (FUD) around the company. These include white papers, government data, original reporting, and interviews with industry experts. SOLUSD, Silbert is the very public face of DCG, often opining on crypto markets through his Twitter feed and in interviews. Genesis, which brokers crypto for financial institutions like hedge funds and asset managers, had frozen client withdrawals in its lending unit in November, citing an "extreme market dislocation and loss of industry confidence" following the downfall of major cryptocurrency exchange FTX. Barry Silbert, the CEO of troubled crypto empire Digital Currency Group (DCG), defrauded some 340,000 crypto investors using Gemini Earn, according to allegations made by Cameron Winklevoss, CEO of crypto exchange Gemini, in a scathing open letter published to Twitter Tuesday morning. university Its not just DCGs size and scope which make it and Silbert such powerful figures in the crypto world. A . (Joe Buglewicz/Bloomberg). In 2004, he founded Restricted Stock Partners, a trading platform for restricted securities issued by companies as part of private deals. DCG also has a number of subsidiaries that are themselves big industry players. FTX, once the third-largest centralized cryptocurrency exchange, is now in U.S. bankruptcy. He does not state their expected profits or losses. Barry Silbert is the CEO of Digital Currency Group, the crypto conglomerate that owns Genesis and Grayscale. DCG is the parent company of CoinDesk. Posting the latest news, reviews and analysis to hit the blockchain. DCG has no knowledge of or reason to believe that there is any Eastern District of New York investigation, a spokesperson said. He serves as an Investment Committee member at Luno Expeditions. Other major cryptocurrencies including ethereum and solana For Silbert, a longstanding advocate for cryptocurrencies who claims to have made his first investment in Bitcoin in 2012, the past few months have been a remarkable fall from grace. Anyone new to crypto will, as they embark on the hallowed process of doing their own research, come across the same names over and over again. Elsewhere, the Securities and Exchange Commission, along with US Attorney's Office for the Eastern District of New York, are investigating DCG for internal transfers at Genesis, Bloomberg reported on Friday, citing unnamed sources. The filing could come as soon as this week, according to Bloomberg, citing unnamed sources. Its not a new or novel concept but the time is right because of the proliferation of hedge funds.. Nasdaq bought SecondMarket in 2015 for an undisclosed amount. But the blowup of FTX tipped the scales, causing Genesis to pause all redemptions. This trade between Genesis and Three Arrows Capital ballooned the AUM of the Grayscale Bitcoin Trust and, as a consequence, the fees earned by its sponsor, Grayscale Investments, according to Cameorn Winklevoss, who alleges that Three Arrows Capital, was acting as a mere conduit for Genesis, allowing it to enter into what were effectively swap transactions of bitcoin for GBTC shares with the Grayscale Trust., In 2021, the GBTC premium turned into a GBTC discount (wherein GBTC shares began trading for less than the underlying Bitcoin). If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Copyright 2023 MarketWatch, Inc. All rights reserved. As my colleague Guy over at Coin Bureaus YouTube channel has pointed out, financial institutions and hedge funds are starting to quietly accumulate huge stashes of BTC, fuelled in part by the fear, uncertainty and doubt currently hanging over the world. He serves as an Investment Committee member at Luno Expeditions. But a DCG bankruptcy would change the crypto space and especially the bitcoin one as Blockstream would have less of a grip over the bitcoin protocol and Coindesk would have less influence. Services include secure, discreet buying and selling, borrowing and lending in large sizes over fixed-terms, custody services to secure assets, and screening to ensure KYC and AML requirements are met. DCG is . Image via emorybusiness.com, After leaving Houlihan Lokey, Silbert founded Restricted Stock Partners, a firm which allowed private companies and investment funds to better raise capital by trading illiquid assets such as bankruptcy claims, start-up stocks and restricted stocks. Grayscales flagship was and remains the Bitcoin Investment Trust (BIT), a private, open-ended trust which was one of the first investment vehicles of its type anywhere in the world. "Galaxy Digital Announces Third Quarter 2021 Financial Results. Join over 300,000 Finance professionals who already subscribe to the FT. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Michael Saylor is the CEO of MicroStrategy, which is investing heavily . There, Silbert worked on some of the most prominent bankruptcies of the Dot-Com collapse, including Enron and WorldCom. Compare Standard and Premium Digital here. Join over 300,000 Finance professionals who already subscribe to the FT. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Investments in crypto property . Prior to leading DCG, he was the founder and CEO of SecondMarket, a venture-backed technology company that Nasdaq acquired. Discover who the major players in cryptocurrency trading are: crypto whales. Naturally, Dogecoin co-creator Billy Markus was not too happy to hear this news. Bitcoin is the largest blockchain-based digital asset, with a market capitalization of $473.7 billion as of Feb. 19, 2023. Silbert also said he contributed most of his bitcoin holdings to DCG, which still holds a significant amount of his original digital coins. The sale of SecondMarket to NASDAQ for an undisclosed sum enabled Silbert to set up DCG in 2015. Winklevoss described a scheme in which Silbert would print money for the DCG universe in perpetuity via one of his crypto subsidiaries, a scenario awfully similar to that of fellow disgraced crypto emperor Sam Bankman-Fried. Through its numerous subsidiaries, DCG has also invested in more than 200 crypto startups. DCG has been an Check your emotions at the door when looking at your portfolio. university Is he a he? DCG built up a formidable portfolio of companies - over 200 in more than 35 countries Silbert told shareholders this month - from Genesis and crypto news and events site CoinDesk to New York-based Grayscale, a major digital asset manager. Prior to his involvement in digital assets, Silbert was an investment banker and financial entrepreneur. He basically moved all of his savings to crypto in 2021 and LUNA was a massive player in his portfolio.. The following year it published its influential State of Bitcoin report before launching, in September 2015, the first Consensus conference, a gathering of the great and good from across the blockchain sphere, which remains an important date in the crypto calendar. Silbert has refuted Winklevoss' claims. Barry Silbert's conglomerate weighs offloading venture assets to help wholly owned digital asset lender DCG has run one of crypto's biggest venture portfolios, backing a range of companies,. Simply log into Settings & Account and select "Cancel" on the right-hand side. As crypto markets soared in value, DCG raised money from the venture capital arm of Bain Capital, MasterCard, New York Life Insurance Company, and Canadian bank CIBC. For cost savings, you can change your plan at any time online in the Settings & Account section. A second early former employee, who worked at the company for several years, described SecondMarket as a master class in the Silicon Valley trait of hyping a company prior to actually building it. SecondMarket representatives were pitching it as an online marketplace of illiquid assets, but the company never moved passed a highly manual process requiring humans to executive every aspect, says the ex-employee. That same year, Silbert launched Digital Currency Group and styled it as an old-school holding company, but built for the Web3 age. As of its 2022 annual report, the company has converted 75% of its digital assets, reducing its holdings to $191 million. Figures like Ethereum creator Vitalik Buterin, Ripple CEO Brad Garlinghouse and billionaire investor Mike Novogratz are familiar to anyone with more than a passing interest in crypto. Barry Silbert's Digital Currency Group looks like one of the last crypto empires still standing after FTX's collapse last year. Bitcoin hit a 10-month lowlast week nd sales of non-fungible tokens,aka NFTs, plummeted between January and March 2022. Barry Silbert, the addressee of Cameron Winklevoss' open letter, is the founder and CEO of Digital Currency Group (DCG), a conglomerate of five . For a full comparison of Standard and Premium Digital, click here. Jan 20 (Reuters) - As an investment banker, Barry Silbert worked on some of the highest-profile corporate failures. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Tesla engineers and builds electric vehicles and clean energy products. Satoshi Nakamoto is the name used by the creator(s) of Bitcoin. They may be best-known for their unhappy acquaintance with the Zuck and Facebook, but these two have brought their star-power to crypto and are now two of its most fervent champions. Clear statement here from Barry Silbert of Digital Currency Group regarding Genesis. Related by origin of wealth: cryptocurrency, Resides in New York, NY Metropolitan Area, Here are some of the strangest things people have asked a ChatGPT chatbot to answer, Twitter appears to be suffering a partial outage, with Twitter timelines appearing blank on the website, Demo shows a 300W charger topping up Xiaomi's Redmi Note 12+ Pro in just under five minutes, Lenovo unveils the ThinkPad Z13 Gen2, which has a cover partially constructed from woven flax. Foundry is bringing critical resources and guidance to an essential corner of the industry. Rakesh is an expert in investing, business, blockchain, and cryptocurrencies. Barry Silbert is one of the most important people in crypto. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. From a successful career in mainstream finance, Barry Silbert has managed in less than a decade to pivot effortlessly towards crypto domination. NFTs are digital assets that use blockchain technology for security and ownership identification. In a later letter to. The US Attorneys Office for the Eastern District of New York is investigating transactions within the DCG empire and the SEC has also opened an investigation, Bloomberg reported last week. When Three Arrows Capital blew up in June 2022, Genesis was left with a roughly $1.2 billion hole on its balance sheet, which it then moved to the books of its parent company, Digital Currency Group, in the form of a promissory note due over 10 years. or was trading around $28,300 Thursday afternoon, down 20% over the past week and nearly 60% lower than its all-time high of $69,000 in November 2021. Cryptocurrency conglomerate Digital Currency Group (DCG) reported a loss of $1.1 billion last year as the firm struggled with plunging crypto prices and the restructuring of its . Together, these guys form cryptos unofficial PR department. Cameron and Tyler Winklevoss are believed to be the first Bitcoin billionaires, reportedly holding about 70,000 coins. One former SecondMarket employee remembered Silbert as very much a by-the-book kind of guy. Dealing in unregistered securities, Silbert was focused on making sure we were in good standing with regulators. Last month, Forbes wrote down the value of Silberts stake in DCG from $3.2 billion to $0. It is a bit of a cash cow. Indeed, Grayscales GBTC product generated $471 million of revenue in 2021. Barry Silbert is the founder of Digital Currency Group, which invests in popular cryptocurrency and blockchain companies. Silbert got into crypto after roughly a decade and a half in traditional finance (TradFi) and has not looked back. Khan conceived and launched the site over the course of a month as a response to the lack of transparent information surrounding bitcoin in those early days. MicroStrategy increased its bitcoin holdings in 2022 by purchasing 8,813 bitcoins at an average price of $32,670. After alleged delaying tactics on the part of Silbert, Gemini founder Cameron Winklevoss gave him an ultimatum. 670 million USD are . Silbert is the founder and CEO of the venture capital firm Digital Currency Group (DCG), which describes itself as the epicenter of the bitcoin and blockchain industry. The company has invested in numerous crypto and blockchain projects, many of which are among the most familiar and famous names in the industry. Barry Silbert is the founder and CEO of Digital Currency Group (DCG), a conglomerate of five cryptocurrency-focused companies. For crypto market access, there are now countless of spot crypto ETFs in Canada and Europe, so it shouldnt make too much difference. Silberts focus on bitcoin manifested itself as Grayscale Investments, which he founded in 2013 after stepping down from running SecondMarket. Later that year CoinDesk conceived the bitcoin price index (BPI), the original price reference rate for the asset, which is still used by many media outlets to this day. It all makes you wonder what hell manage to achieve over the next eight years. offers FT membership to read for free. The stunning allegations follow Forbes estimates last month that Silberts fortune had evaporated, and as government investigations into Silberts companies ramp up. We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Further layoffs were then announced by Consensys, Amber Group, and DCG portfolio firm LUNO. All Rights Fully Reserved. Barry Silbert, the boy that spent his bar mitzvah money to trade baseball cards, now has no money. Galaxy Digital Holdings has interests in nearly every digital asset that has value, ranging from bitcoin to NFTs. From a consolidated balance sheet perspective, DCG held total assets of $5.3 billion as of Dec. 31, 2022, the report said. Other portfolio companies include Genesis, a liquidity provideran entity that funds a pool with cryptocurrencyfor cryptocurrency buyers and sellers in the over-the-counter market. Crypto lender Genesis is reportedly making plans to file for bankruptcy as soon as this week. Crypto lender Genesis is reportedly making plans to file for bankruptcy as soon. Silbert and his companies defrauded Gemini customers by conspir[ing] to make false statements and misrepresentations about the solvency and financial health of Genesis, alleges Winklevoss. He serves as Board Member at Ethereum Classic. Former investment banker Silbert is one of the earliest and most active investors in the crypto space. By lying, they hoped to buy time to dig themselves out of the hole they created., In response, a DCG spokesperson said in an emailed statement to Forbes: This is another desperate and unconstructive publicity stunt from Cameron Winklevoss to deflect blame from himself and Gemini, who are solely responsible for operating Gemini Earn and marketing the program to its customers. Secure Your Seat. This had the desired effect of keeping GBTC shares from being sold into the market, Winklevoss notes, but for Genesis, this had the undesired effect of keeping its risk position open and allowing it to grow.. Discover who the major players in cryptocurrency trading are: crypto whales. Prior to launching the Bitcoin Trust in September 2013, Silbert was running SecondMarket where private company employees could sell their shares. Silbert rebranded his company to SecondMarket in 2008 as he expanded the trading platform to include private company stock and alternative investments, after an early Facebook employee approached Silberts company to ask if they could help him sell his shares. Genesis, itself a subsidiary of billionaire Barry Silbert's Digital Currency Group that connects institutional investors to digital asset markets, said in the filing that it owes creditors at. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Sign up for our newsletter to get the inside scoop on what traders are talking about delivered daily to your inbox. Get the full list, Morningstar Institutional Equity Research. In a letter to shareholders, also dated Jan. 10, Silbert called the past year the most difficult of his life. Digital Currency Group has invested in 218 blockchain- and cryptocurrency-related companies. MicroStrategy Incorporated. DCG did not immediately respond to a request for comment. Now, as founder of venture capital firm Digital Currency Group, parent of troubled crypto firm Genesis, he is grappling with problems closer to home. The company name reflects Silberts belief in the power and potential of blockchain and digital currencies as a whole and not solely bitcoin. Visit our, Speculation Intensifies Hong Kong Opening Up to Crypto as China FDI Plunges. If you are having thoughts of suicide, call the National Suicide Prevention Lifeline at1-800-273-8255(TALK). For cost savings, you can change your plan at any time online in the Settings & Account section. See here for a complete list of exchanges and delays. Silbert has come under fire since Genesis suspended withdrawals, with the co-founder of crypto exchange Gemini accusing him of misleading investors and engaging in bad-faith stall tactics. Simply. Gemini offered a crypto yield product in partnership with Genesis, and says Genesis owes the firm $900 million. Cameron Winklevoss blasted Silbert for "bad faith" business practices earlier this month, alleging the crypto baron owes the digital asset exchange's customers $900 million. Learn why they're important, how to become one, and what risks come with it. We use The argument that equity markets are too expensive is the confirmation bias of sidelined bears, argues the analyst. ChatGPT: The Weirdest Things People Ask AI To Solve, The Phone That Can Fully Charge In 5 Minutes, Reports: Barry Trotz To Succeed Retiring David Poile As Nashville Predators GM, Barry X Ball + LG: At The Cutting Edge Of Frieze LA, Why Kenya Barris Wanted You People To Be His Feature Directorial Debut, Cooperstown Says No To Barry Bonds And Roger Clemens, But Yes To Scott Rolen. "Specific to the $10.6 billion Grayscale Bitcoin Trust, they are the biggest crypto fund, so any resolution that involves liquidation would be another major setback.". The director, co-writer, and co-producer's culture clash romantic comedy is also a love letter to LA. Federal bank regulatory agencies issued a statement highlighting liquidity risks to banking organizations associated with certain sources of funding from #crypto-asset-related ent The letter ended with Cameron Winklevoss telling Barry Silbert to find a solution by Jan. 8. Gemini had partnered with Genesis for its Gemini Earn product, which offered investors annual interest returns of up to 8%. He's the head of Digital Currency Group, a Web 3.0 conglomerate containing subsidiaries such as Grayscale, Genesis, and CoinDesk. as well as other partner offers and accept our, Heidi Gutman/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images, Registration on or use of this site constitutes acceptance of our. Provides institutional investors with an all-in-one solution to put substantial amounts of capital to work. This makes DCG arguably the biggest crypto hedge fund around, even outdoing other giants like Pantera Capital, Andreesen Horowitz and Mike Novogratzs Galaxy Digital. What Is Bitcoin Cash (BCH), and How Does It Work? Several wealthy business owners and entrepreneurs have invested heavily in this digital asset. Customer funds from the crypto exchange Gemini in the amount of 900 million US dollars are stuck after a payout stop at DCG's subsidiary Genesis. Barry Silbert is the founder and CEO of Digital Currency Group (DCG), a conglomerate of five cryptocurrency-focused companies. In November 2021, some Digital Currency Group investors sold around $700 million of their shares at a $10 billion valuation. Later, he started and sold a financial services company called SecondMarket, which was later acquired by Nasdaq for an undisclosed amount in 2015. However, the letter did not reveal if DCG and Barry responded; a scenario that could prevail would be for DCG to file Chapter 11. Before we do, lets look at the origins of Silberts rise to the top of the crypto tree. The BIT was attracting investors who might not otherwise have gone near a crypto exchange or digital wallet. Quant Network Review: The Interoperable Blockchain OS, Nexus Mutual Review (NXM): Defi Smart Contract Insurance. Crypto lender Genesis is reportedly making plans to file for bankruptcy as soon. SecondMarket duly went from strength to strength and was named a Technology Pioneer by the World Economic Forum at its 2010 convention in Davos. Silbert is the founder and CEO of the venture capital firm Digital Currency Group (DCG), which describes itself as ' the epicenter of the bitcoin and blockchain industry .' The company has invested in numerous crypto and blockchain projects, many of which are among the most familiar and famous names in the industry. Nasdaq bought SecondMarket in 2015 for an undisclosed amount and Silbert relaunched SecondMarkets crypto trading division as Genesis Trading the same year, incorporating it into his growing crypto empire. But crypto is becoming ever more mainstream and a few of its most influential figures are edging further into the limelight. Triple check yourself any time you . Barry Silbert, back in 2015. And one of the most interesting and influential of them all is one Barry E Silbert. Their opinions are sought (or eagerly proffered) on any big story. suicide is the only way out for me., My ex-colleague attempted suicide, reads another top post on the forum. Genesis has been trying to raise $1 billion from Binance and Apollo Global Management, but that hasnt gone through so far. Investopedia does not include all offers available in the marketplace. For context, Genesis' lending arm was hit earlier this year over its exposure to now-defunct fund Three Arrows Capital, and later revealed its derivatives business has $175 million lock on an FTX trading account. Their only hope is if Grayscale wins in the lawsuit against SEC to turn this widow Trust into an ETF, but the outcome of that case is uncertain and is not expected anytime soon. Genesis declined to comment. On one side, there are the millionaire twin brothers Cameron and Tyler Winklevoss and on the other Barry Silbert, one of the barons of the industry. Its founder faces criminal and civil charges and goes to trial in October. Editors at large. In 2009, he was named one of Ernst & Young's Entrepreneurs of the Year, and as Crains Entrepreneur of the Year. Keep in mind that we're still in the first month of 2023 here. Last year, DCG's valuation reached $10 billion, after it sold $700 million of stock in a private sale led by SoftBank Group Corp. DCG had 66 employees at the start of November and holds more . Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. You may change or cancel your subscription or trial at any time online. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Image via CNBC. Access your favorite topics in a personalized feed while you're on the go. Proof-of-Work vs Proof-of-Stake: Which is Best? This activity aroused the interest of Silbert and the rest of the board at DCG, resulting in a buyout of CoinDesk in early 2016. Silbert owns about 40% of DCG, a company that has invested in countless of entities, including Coinbase, FTX, Coindesk, Blockstream and overall 200 mainly crypto companies. Weve already touched on Grayscale, which continues to be at the forefront of institutional investment in bitcoin and other cryptos through its investment products. Standard Digital includes access to a wealth of global news, analysis and expert opinion. The Digital Currency Group (DCG), which Silbert founded in 2015, has $2 billion in debt, Silbert said in a letter to investors. Today's Cryptocurrency Prices by Market Cap, Cboe and Gemini to Launch First-Ever Bitcoin Futures Contract Ticker: XBT, Galaxy Digital Announces Third Quarter 2021 Financial Results, Galaxy Announces Third Quarter 2022 Financial Results. After graduating he joined Houlihan Lokey as an investment banker, staying with the firm until 2004.