The post Crypto Lender Genesis Sues DCG, Seeks Billions Back appeared on BitcoinEthereumNews.com.

Crime Genesis Global has filed two aggressive lawsuits targeting its parent company, Digital Currency Group (DCG), and CEO Barry Silbert. The crypto lender claims they mishandled company assets and caused its collapse. The legal battle kicked off in Delaware Chancery Court. Genesis accuses Silbert and DCG of using the company for personal gain. Executives allegedly moved funds recklessly and misled both clients and partners. Although Grayscale Investments appears in the complaint, Genesis didn’t name the company as a defendant. Instead, it focuses on how Silbert and his allies managed the firm into bankruptcy. Billions at Stake in Crypto Asset Dispute Genesis wants at least $2.2 billion in bitcoin, ether, and other crypto assets returned. The company argues that DCG and insiders misused the assets in 2022 while masking financial troubles. A separate filing in New York bankruptcy court makes similar claims. This time, Genesis outlines more than $1 billion in alleged fraudulent transfers made by DCG and Silbert. Lawyers for Genesis demand that the court void those transactions. If successful, the recovered funds would help repay Genesis creditors still waiting after the bankruptcy. Author Kosta Gushterov Reporter at Coindoo Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets. Related stories Next article Source: https://coindoo.com/crypto-lender-genesis-sues-dcg-seeks-billions-back/

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Filed under: News - @ May 20, 2025 10:27 am