Any time a CEO says “our balance sheet is strong” in crypto, jokes Santiago Santos, “it’s definitely not. Run away.”

Following the collapse of FTX, DCG’s CEO Barry Silbert attempted to reassure frazzled investors with a calming letter, suggesting things were copacetic despite the spreading market contagion. But Lumida Wealth co-founder and CEO Ram Ahluwalia says “things still didn’t make any sense” at the time.

“And now, of course, here we are,” he says. “The NYAG has filed a complaint against DCG and Barry Silbert personally.”

Speaking to Blockworks on the Empire podcast (Spotify/Apple), Ahluwalia says the digital asset conglomerate is now mired in a legal…

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