Genesis Sues DCG, Seeks Recovery of Over $3.1B in Note and Asset Transfers

Quick Summary:

Genesis is suing DCG and CEO Barry Silbert to recover over $3.1 billion, alleging fraud, self-dealing, and improper asset transfers.

Central to the Delaware filing is DCG's issuance of a 10-year, $1.1 billion promissory note in 2022, meant to cover Genesis's losses from Three Arrows Capital's default.

Genesis is seeking over $3.1 billion, including a $1.1 billion promissory note and more than $1.2 billion in disputed transfers, some of which were made in crypto now valued at over $2 billion.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Vince Dioquino

Category: Crypto

Markets: Estonia

Topics: Digital currency group Law and Order Genisis Law Legal Dcg

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-20 @ 04:39:48 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 675 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 28864483

View Article Analysis

About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 9 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 12 hours ago

Coverage Areas: Estonia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #63

Publisher Details

Frequently Asked Questions