Judge Allows NYAG’s Civil Securities Fraud Suit Against DCG to Proceed

BTCC / BTCC Square / Global Cryptocurrency /

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2025-04-11 22:22:02

A New York judge ruled Friday that most of New York Attorney General Letitia James’ civil securities fraud suit against crypto venture firm Digital Currency Group (DCG) and its executives can move forward to trial. The suit alleges that DCG, its CEO Barry Silbert, Genesis Global Capital, and others covered up a $1 billion hole in Genesis’ balance sheet caused by the collapse of Three Arrows Capital (3AC) in 2022. James claims DCG and Genesis made false assurances on social media that DCG had absorbed Genesis’ losses from 3AC’s implosion when, in fact, they had just papered over the hole with a promissory note.

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