by: xpoolPosted on:

DCG Sues Genesis for $105 Million Over 2022 Rescue: Legal Battle Threatens Crypto Markets

Digital Currency Group (DCG) has filed a lawsuit against its former subsidiary, Genesis Global Capital, seeking over $105 million related to a $1.1 billion rescue plan implemented in 2022 following the collapse of Three Arrows Capital (3AC). Genesis, in response, countersued with allegations of fraudulent asset transfers totaling $3.1 billion during the insolvency period. This legal battle holds significant implications for both crypto markets and financial regulation, as it could reshape creditor prioritization and protocol compliance in future insolvencies.

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