DCG Dragged Genesis to Court Over $1.1B Promissory Note—Bankruptcy Battle Escalates

Digital Currency Group (DCG) just threw gasoline on its legal feud with Genesis—filing suit to recover a $1.1 billion promissory note as the crypto lender drowns in bankruptcy.

The Debt That Won’t Die

Genesis thought Chapter 11 would pause the bleeding. DCG had other plans. The Barry Silbert-led conglomerate is now demanding repayment on that nine-figure IOU—while creditors circle like vultures.

Crypto’s Domino Effect

Another day, another crypto bankruptcy spat. This one’s got extra spice: DCG lent its own subsidiary money during the bull run, and now wants it back during the bear. Classic ‘private equity meets decentralized finance’ irony.

The Bottom Line

Whether this is a legit claim or just legal posturing, one thing’s clear: in crypto bankruptcies, the only winners are the lawyers billing by the hour. The rest? Left holding bags of depreciating promises.