Genesis alleges that executives at Digital Currency Group (DCG) ignored warnings about the financial instability of Genesis, treating it as a source of funds even as it approached insolvency.
Internal memos revealed that DCG’s CFO raised concerns about potential legal liability, indicating they might be treated as Genesis’s “alter ego.” The lawsuit seeks to reclaim over 3.3 billion USD.
The fallout from Genesis’ collapse involves multiple lawsuits and regulatory scrutiny, adding challenges as the company aims to recover funds for its creditors.
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