Coindesk.

The purported sales are the latest measures the embattled firm has taken following moves in recent months to raise capital and preserve liquidity.

Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity.

According to a Feb. 7 Financial Times report citing seen United States securities filings, DCG sold around a quarter of its shares in Grayscale’s Ether (ETH)-based fund for around $8 per share, despite each share holding a claim to nearly double that amount in ETH.

It’s also said to have sold down small share parcels in Grayscale’s Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC)-based trusts in addition to its Digital Large Cap Fund — which combines Bitcoin (BTC), Ether, Polygon (MATIC), Solana (SOL) and Cardano (ADA) into a single fund.

When asked about the share sales DCG was quoted as saying that: “This is simply part of our ongoing portfolio rebalancing.”

Despite the statement, some observers believe Barry Silbert’s DCG may be headed toward g financial strife.

Another one of its subsidiaries — crypto lending firm Genesis Global Capital — filed for bankruptcy on Jan. 19 and is believed to owe creditors over $3 billion.

Companies owned by DCG have been severely affected by the contagion resulting from FTX’s implosion, with over 500 employees laid off in recent weeks.

However, DCG has taken a number of steps to preserve liquidity in 2023, such as announcing to its shareholders in a Jan. 17 letter that it would be halting its quarterly dividend payments as it looks to strengthen its balance sheets.

Related: Genesis creditors to expect 80% recovery under proposed restructuring plan

DCG has also sought the help of financial advisory firm Lazard to help it weigh up options to sell crypto media outlet CoinDesk — another of its subsidiaries — after it claimed to have received offers for the outlet exceeding $200 million.

Grayscale, Genesis, and CoinDesk are among some 200 crypto-related businesses in DCG’s venture capital portfolio according to its website. Other companies that DCG has equity in include the crypto exchange Luno and advisory firm Foundry.