Genesis Files Massive Lawsuit Against Digital Currency Group for Alleged Misconduct

Crypto lending firm Genesis has launched a legal battle against its parent company, Digital Currency Group (DCG), and CEO Barry Silbert, accusing them of orchestrating a fraudulent scheme that left creditors struggling. The lawsuits allege misappropriation of funds, reckless financial management, and a systematic strategy to prioritize DCG’s assets over the well-being of Genesis customers. 3.3 billion dollars is being sought in damages for Genesis, who claims these actions were orchestrated with the intent to mislead investors and lenders about its financial health.