In a fresh development, digital asset giant DCG has filed a lawsuit against Genesis Global Capital and its Asia Pacific arm, demanding over $105 million in repayment. This action comes after Genesis’ bankruptcy following the collapse of 3AC, a now-defunct crypto trading firm that triggered a series of events across the industry. DCG claims Genesis profited significantly from assets linked to loans given to 3AC during the turbulent market conditions of 2022. According to DCG, Genesis never experienced the severe liquidity crisis initially anticipated but instead capitalized on 3AC’s default by amassing hundreds of millions in profits. This has resulted in a lawsuit seeking repayment for a $1.1 billion promissory note issued in June 2022 as a safeguard against potential financial shortfalls within Genesis Asia Pacific.