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BTCC / BTCC Square / Global Cryptocurrency /
Genesis Files $3.3B Lawsuits Against DCG and Barry Silbert

Genesis Files $3.3B Lawsuits Against DCG and Barry Silbert

Author:
Global Cryptocurrency
Published:
2025-05-20 11:25:02
21
2

Bankrupt crypto lender Genesis has escalated its legal battle against parent company Digital Currency Group (DCG) and CEO Barry Silbert, filing lawsuits alleging fraud, financial mismanagement, and misuse of corporate funds. The complaints, unsealed in Delaware and New York courts, seek to recover over $3.3 billion in what Genesis claims were improper transfers.

Court documents depict DCG as treating Genesis like a "corporate ATM," with allegations of self-dealing loans and concealed transactions during the lender’s final months. The lawsuits accuse DCG leadership of creating a false facade of stability while systematically extracting value from the company.

|Square

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