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BTCC / BTCC Square / Global Cryptocurrency /
Genesis Demands $3.2B in Crypto from DCG Amid Fraud Allegations

Genesis Demands $3.2B in Crypto from DCG Amid Fraud Allegations

Author:
Global Cryptocurrency
Published:
2025-05-21 01:48:02
20
1

Genesis Global Capital and its subsidiaries have launched twin lawsuits against Digital Currency Group (DCG) and CEO Barry Silbert, alleging fraudulent transfers totaling $3.2 billion. The Delaware Court of Chancery filing seeks $2.2 billion, while a parallel bankruptcy claim in New York demands over $1 billion in recovered assets.

Legal documents reveal Genesis’s contention that DCG executives orchestrated unauthorized withdrawals during the year preceding its Chapter 11 filing. The litigation exposes deepening fractures within one of crypto’s most prominent institutional ecosystems, with potential ramifications for creditor recoveries across multiple bankruptcies.

|Square

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