Digital Currency Group Sues Subsidiaries over $1.1B Promissory Note

Digital Currency Group Files $1.1B Lawsuit Against Own Subsidiaries

The cryptocurrency industry is witnessing yet another legal controversy, this time involving Digital Currency Group (DCG) and its subsidiary, Genesis Global Capital. The scenario unfolds as Fir Tree, an investment management firm, has filed a lawsuit against DCG over alleged misstatements connected to a promissory note issued by Genesis. Exploring the Lawsuit Details Fir Tree claims that Genesis and DCG provided misleading information concerning…

Digital Currency Group sues subsidiaries over $1.1B promissory note

The events around the 2022 crypto market downturn featured prominently in court documents filed Thursday by Digital Currency Group against two of its subsidiaries.

Digital Currency Group Sues Genesis Over $1.1 Billion 2022 Bailout Amid Bankruptcy Dispute

Digital Currency Group (DCG) has initiated legal action against its bankrupt lending arm, Genesis Global Capital LLC, seeking repayment related to a $1.1 billion support package issued during the crypto market crash of 2022. The lawsuit, filed Thursday in the U.S. Bankruptcy Court for the Southern…

Digital Currency Group Inc. v. Genesis Global Capital LLC et al: Complaint (‘$105M Unjust Enrichment’) - OffshoreAlert

Complaint in which the plaintiff "seeks a declaration that it has no further obligations under a promissory note that, in the midst of unprecedented turbulence in cryptocurrency markets, DCG voluntarily extended to backstop Genesis against potential loss from the June 2022 default of a large borrower, Three Arrows Capital, Ltd ." and is seeking an order requiring the defendants to "Repay" $105 million in Digital Currency Group Inc., described as