Genesis Sues Parent Company for Billions Amidst Bankruptcy

Genesis Global Capital, a cryptocurrency lending firm embroiled in bankruptcy proceedings, has filed legal actions against its parent company, Digital Currency Group (DCG), seeking to recover over $3.1 billion in debts owed to creditors. The lawsuits, filed in Delaware and New York courts, allege mismanagement and fraud by DCG and its CEO, Barry Silbert, which allegedly contributed to Genesis’s collapse in 2023.