Genesis Alleges Fraud in $3.3B DCG Lawsuit

Genesis has filed two lawsuits seeking to recover $3.3 billion from Digital Currency Group (DCG), its CEO Barry Silbert, and other insiders. The complaints allege fraud, mismanagement, and concealed fund transfers that enriched DCG at the expense of Genesis creditors. Court documents claim over $2.2 billion in crypto remains unpaid following Genesis’s 2023 bankruptcy and reckless lending practices.