Genesis Lawsuits DCG and CEO Silbert Over $1 Billion in Alleged Financial Misconduct

Crypto lending firm Genesis Global Capital has initiated legal action against its parent company, Digital Currency Group (DCG), and CEO Barry Silbert, accusing them of fraudulent transactions that allegedly depleted over $1 billion from the firm’s accounts during a financial crisis. 2 lawsuits filed, one in Delaware Chancery Court and another in the U.S. Bankruptcy Court for the Southern District of New York, expose allegations of self-dealing, fraud, and mismanagement by DCG and its affiliates during Genesis’ precarious situation.