Most Influential 2021: Barry Silbert

The founder of Digital Currency Group sees Standard Oil as an inspiration.

AccessTimeIconDec 9, 2021 at 8:25 p.m. UTC
Updated May 11, 2023 at 4:31 p.m. UTC
Layer 2
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

If U.S. lawmakers ever target the crypto industry for antitrust activity, Digital Currency Group (DCG) might be top on the list. Founded by Barry Silbert in 2013, DCG is a crypto powerhouse with investments across the industry – including ownership of this publication. It wholly owns digital currency trader and lender Genesis Global Trading and digital asset management firm Grayscale Investments, the provider of the popular bitcoin investment vehicle, the Grayscale Bitcoin Trust. This year, Silbert made the case for that trust to be converted into a spot bitcoin exchange-traded fund (ETF), distinct from current bitcoin ETFs that track BTC futures, though that instrument has yet to be approved.

The crypto investment giant expanded further into the world of trading by buying global crypto exchange Luno and crypto mining firm Foundry. DCG is valued at $10 billion, and employees recently sold $700 million worth of shares on secondary markets to SoftBank and Google parent Alphabet’s venture capital branch. Silbert is holding his shares. He even told the Wall Street Journal that he sees Standard Oil, the conglomerate created by John D. Rockefeller, as inspiration for DCG.

(Kevin Ross/CoinDesk)
(Kevin Ross/CoinDesk)

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.