Digital Currency Group (DCG), the parent company of CoinDesk, is reportedly exploring options for a partial or complete sale of the company.
This news comes amid reports of liquidity issues for DCG, which is owned by Barry Silbert. CoinDesk CEO, Kevin Worth, announced that the company has hired investment bankers from Lazard Ltd to help explore the potential sale.
The reason for DCG’s liquidity issues are attributed to a number of factors including the recent collapse of FTX and a legal battle with the Winklevoss twins, founders of the Gemini cryptocurrency exchange.
The U.S. Securities and Exchange Commission (SEC) has also recently sued both DCG and its subsidiary Genesis for allegedly selling unregistered securities.
Genesis is reportedly preparing to file for bankruptcy this week after failing to raise cash.