Barry Silbert is an American businessman who is one of the top ten wealthiest people in crypto. He founded the Digital Currency Group (DCG), Genesis, Grayscale Investments, and the Bitcoin Investment Trust (BIT) and was the former CEO and Chairman of SecondMarket.
This article explores everything you need to learn about the American entrepreneur Barry Silbert.
Who Is Barry Silbert?
Barry Silbert is the founder and leader of Digital Currency Group (DCG), a grouping of five businesses specialized in cryptocurrencies. He has been considered one of the top ten billionaires in the crypto sector. The 46-year-old American businessman has been present in the crypto field since 2008.
Silbert was brought up in Riverdale, where he was born in 1976. He completed his degree in finance from the University of Pennsylvania’s Wharton School. He graduated in Business Administration from Emory University’s Goizueta Business school in 1998.
How Did Barry Silbert Begin His Career In The Crypto Business?
The Venture-backed financial platform technology business Second Market, Inc. was established by Silbert in 2008.
He served as the chairman and CEO of Second Market until the company was acquired by Nasdaq, Inc. in 2015. Silbert established the Digital Currency Group in 2015, and he is the CEO of the company.
In addition to BitGo, BitPay, BitPagos, Bitpesa, Chain Chainalysis, Circle, Coinbase, Gyft, Kraken, Ripple Labs, TradeBlock, Unocoin, and Xapo, Digital Currency Group is a seed investors in several blockchain technologies, digital currency, and international financial services startups.
In 2014, Silbert established the Bitcoin Investment Trust (BIT), a private, open-ended trust with publicly traded securities that are purely invested in and derive value from the price of bitcoin and are backed by Grayscale Investments, a DCG company.
Which Are The Businesses That Barry Silbert Founded?
As a billionaire in the crypto platforms, Barry Silbert founded various businesses such as the Digital Currency Group, Genesis, the SecondMarket, and Grayscale Investments.
Let’s look more into these businesses that Barry founded.
- Digital Currency Group (DCG)
Digital Currency Group (DCG) is a venture capital firm that specializes in the market for digital currencies. It is situated in Connecticut’s Stamford.
The corporation includes five companies, Grayscale Investments, CoinDesk, Foundry, Genesis, and Luno. Among these Genesis and Grayscale Investments was established by Barry Silbert, the founder of DCG.
Barry Silbert, the former CEO of Second Market Inc., founded the DCG. he began investing in the blockchain technology business in 2013. Silbert founded DCG shortly after Second Markert was sold, with Genesis and Grayscale serving as the organization’s first subsidiaries.
As of November last year, DCG has made more than 200 investments in various cryptocurrency companies.
- Grayscale Investments
Grayscale Investments is a digital currency asset manager that was founded in 2013. It provides publicly traded products as well as privately offered funds for accredited and institutional investors.
With more than $50 billion in assets under management at the time, they were the biggest asset manager for digital currency in the world as of December 2021.
Grayscale also oversees the Grayscale Bitcoin Investment Trust, which was established in 2013 and was the first publicly traded security invested purely in the price of bitcoin.
- Genesis Global Capital
Genesis is a platform for asset custody, lending, and crypto trading that caters to institutional clients and high-net-worth individuals. They were established in 2013 by Barry Silbert and asserted to be the first OTC Bitcoin crypto desk.
Early in 2020, Genesis purchased the London-based Volt crypto asset custodian company. Grayscale Investments, a Genesis sibling company, has been storing its cryptocurrency holdings with Xapo, a business that Genesis’ competition Coinbase bought in 2019.
- SecondMarket
SecondMarket was the primary business that Barry Silbert founded in 2004. The company provides a secondary market trading platform for private business stock issuers, brokers, shareholders, and potential investors.
In 2015, SecondMarket founded by Silbert was acquired by NASDAQ and they changed its name to NASDAQ Private Market.
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How Much Is The Net Worth Of Barry Silbert?
Barry Silbert is supposed to have an estimated net worth of more than $3.5 billion.
Barry Silbert’s remarkable increase in net worth can be attributed in large part to his early entry into the cryptocurrency industry. Barry was a pioneer in the cryptocurrency industry because he was one of the first significant institutional entities to invest heavily in it.
Also through Digital Currency Group and his startup company, he began to invest money in 2014.
At a relatively young age, his investments and early inputs into the ecosystem of digital currencies are what finally caused his net worth to surge into the billions.
Who Is Barry Silbert Married To? Does He Have Any Children?
Barry Silbert keeps his personal life away from the spotlight, maybe because he likes it that way. The 46-year-old American businessman is supposedly married to Lori Silbert. As we already read, Barry’s personal life is mostly unknown. The details regarding his children are still under the shade.
Lori Silbert is very supportive of Barry in every aspect. People on the internet found Lori sharing the tweets of Barry. There isn’t much known about Barry’s wife or children.
Moving on to his family, the details of his parents and siblings are still unavailable on the internet.
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