Digital Currency Group (DCG) has filed a lawsuit against its subsidiaries Genesis Global Capital and Genesis Asia Pacific concerning a $1.1 billion promissory note. This legal action relates to safeguarding against the financial fallout from the 2022 collapse of Three Arrows Capital (3AC).
DCG alleges that Genesis profited significantly from the 3AC bankruptcy while claiming losses. Meanwhile, Genesis has also alleged fraud against DCG, seeking $3.3 billion in damages.
Leave a Reply