Categories: FinanceNews

Digital Currency Groups Announces New Investors

Barry Silbert, Founder and CEO of New York-based investment firm Digital Currency Group, announced today a slew of new investment partners and several new appointments to the DCG Board of Directors.

On the investment partners side, DCG welcomes Western Union, Beijing-based HCM International Company and Gibraltar Ventures, among several other smaller investment managers and firms.

Silbert’s post revealed that several prominent figures from the bitcoin space and the financial industry have joined DCG in various capacities. Glenn Hutchins, who is a director at Nasdaq, AT&T as well as the Federal Reserve Bank of New York, joins the DCG Board of Directors.

Glenn Hutchins said:

“Bitcoin technology has the potential, among many other impacts, to transform the global payments system and DCG aims to be a central force in the transformation.”

Lawrence Lenihan, Co-Founder and Co-CEO of Resonance – a company that invests in early-stage fashion brands – joins Barry Silbert and Glenn Hutchins on the DCG Board of Directors.

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Silbert also welcomed bitcoin developer Gavin Andresen and Dr. Lawrence Summers, who served as Treasury Secretary for President Clinton and also as Director of the National Economic Council for President Obama. Both Andresen and Summers join DCG as Senior Advisors.

Dr. Summers mentioned that diverse investment funds like DCG are necessary to bring this nascent technology into the mainstream:

“Digital currencies, blockchain and ‘the internet of value’ will create new platforms for financial inclusion, and Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.”

In January of 2016, DCG acquired digital currency news outlet CoinDesk, which is organizing the Consensus 2016 blockchain conference in New York, where all of DCG’s advisors will be presenting.

 

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