• Justin Sun has announced he is interested in investing up to $1 billion to buy assets of Digital Currency Group, the parent company of embattled cryptocurrency lender Genesis.
• Sun did not specify which parts of DCG’s VC assets he plans to acquire.
• CoinDesk, Grayscale, Genesis, Coinbase, Kraken, and Circle are some of the biggest companies listed in DCG’s portfolio.

Justin Sun, founder of the TRON Foundation, recently revealed his intention to invest up to $1 billion of his own money in the acquisition of assets from Digital Currency Group (DCG). This comes as the parent company of embattled cryptocurrency lender Genesis is looking to raise money by selling a portion of its venture portfolio.

DCG, a crypto conglomerate, has a wide portfolio of investments in the field of digital currency and blockchain technology. Its website lists more than 160 companies in its portfolio, of which 28 have been acquired. Among the biggest companies listed in its portfolio are CoinDesk, Grayscale, Genesis, Coinbase, Kraken, and Circle.

Sun, who is one of the richest figures in the crypto world with an unknown net worth, expressed his willingness to purchase a portion of DCG’s assets depending on their evaluation of the situation. He did not, however, specify which parts of DCG’s venture capital assets he would be interested in.

This is not the first time Sun has offered to invest large sums of money in the crypto space. Prior to the collapse of cryptocurrency exchange FTX, Sun was reportedly prepared to provide billions of dollars in aid. The deal did not go through, however, leading to the exchange’s bankruptcy in mid-November. In the wake of FTX’s bankruptcy, Genesis announced that it is temporarily suspending redemptions and new loan originations.

Sun’s announcement could bring some much-needed relief to DCG and its portfolio companies, as the crypto market continues to be volatile. It remains to be seen if he will go through with the purchase of a portion of DCG’s assets and how it could potentially impact the crypto world.