Genesis Lawsuits Reveal Allegations of Financial Misconduct by Crypto Giant

Crypto lending firm Genesis and its subsidiaries have filed separate lawsuits against their parent company, Digital Currency Group (DCG), alleging financial mismanagement contributed to the company’s bankruptcy. The lawsuits claim unauthorized withdrawals of assets worth over $3.2 billion from Genesis were made for the benefit of DCG executives and associates, potentially at the expense of the firm’s creditors.