[Bitcoin Magazine CEO: DCG CEO is guilty of manipulating GBTC price] Golden Finance reported that Bitcoin Magazine CEO David Bailey posted on X (formerly Twitter) accusing Grayscale CEO Barry Silbert of criminal behavior. Bailey claimed that Silbert borrowed customer deposits to manipulate the price of GBTC in order to use it as collateral, knowingly borrowed Bitcoin from Genesis users, and he was actually insolvent, which was a crime. Bailey claimed that Silbert spent up to $500 million in 2022 to "maintain the price of GBTC," especially during the collapse of Do Kwon's Terra Luna empire. Silbert allegedly spent $300 million borrowed from Genesis, which was borrowed when Terra Luna collapsed in mid-May 2022. Silbert is the CEO of Digital Currency Group (DCG), the parent company of Grayscale and its $3.3 billion flagship product GBTC.