Digital Currency Group (DCG), a major player in the cryptocurrency and blockchain space, has initiated legal action against two of its subsidiaries, Genesis Global Capital and Genesis Asia Pacific, regarding a $1.1 billion promissory note. This lawsuit stems from financial arrangements related to the 2022 default of Three Arrows Capital (3AC). DCG alleges that these subsidiaries owe payments based on recoveries gained following 3AC’s collapse. 10-year promissory notes issued in June 2022 by DCG were intended as a safeguard against potential equity shortfalls caused by the 3AC default, but now DCG claims Genesis profited significantly and should return those funds.