Crypto Bigwig Barry Silbert's Washington Spending Spree Amid Legal Storm

Barry Silbert, the head of Digital Currency Group (DCG), is facing serious legal troubles. He's accused of tricking big investors, like Mark Cuban. Yet, he's pouring money into lobbying in Washington. This is happening while he's trying to take his company public in a massive IPO. In early 2025, Silbert settled with the SEC for misleading investors. But that's not the end of his legal woes. He's still dealing with multiple lawsuits from investors and legal action from New York's Attorney General. Creditors have accused Silbert and his team of running Genesis, DCG's now-bankrupt crypto lending arm, into the ground through fraud and self-serving deals. Despite these issues, Silbert's company spent a lot on lobbying. In the third quarter of 2025, DCG spent $420, 000 lobbying the Senate. That's more than triple what they spent the year before. This spending spree comes as Silbert pushes to take Grayscale Investments, a DCG subsidiary, public in a potential $33 billion IPO. Some people are upset about this spending. They think Silbert should focus on paying back what he owes instead of trying to influence lawmakers. DCG says they've already paid what they owe to Genesis. They also say their lobbying is just about educating lawmakers.Silbert has also been donating to individual lawmakers. But many on Capitol Hill are skeptical. Some compare taking money from DCG to taking money from disgraced FTX founder Sam Bankman-Fried. The fraud allegations make it a risky move. Lawsuits claim Silbert and other DCG insiders took out more than $1. 2 billion from Genesis before its bankruptcy. Court filings say Silbert lied to investors about Genesis's financial health. He allegedly kept their money locked in while he and his inner circle pulled out their funds. DCG paid the SEC $38. 5 million in January 2025 for misleading investors. But the company denies any broader wrongdoing. The Grayscale IPO, filed in November 2025, could provide DCG with liquidity. But analysts warn the fraud cases could sink it entirely. Silbert's lobbying blitz could backfire. It's rubbing officials the wrong way. His influence operation faces a harsh reality: His money can only do so much. When you're facing serious allegations, nobody wants to be in the room with you.