Europe EditionGenesis Files Suits Against DCG to Recover Billions Worth of Allegedly Fraudulent Transfers
- In May 2025, Genesis Global Capital filed two lawsuits against Digital Currency Group and CEO Barry Silbert in Delaware and New York courts to recover billions in alleged fraudulent crypto transfers.
- These lawsuits followed Genesis’s bankruptcy filing in January 2023, which resulted from alleged reckless asset management and financial misrepresentations by DCG and insiders during 2022.
- Genesis claims DCG and Silbert funneled over $3.1 billion in crypto, including bitcoin and ether, to themselves and affiliates while the company was insolvent and creditors remained unpaid.
- The filings call the transfers a "campaign of fraud and self-dealing" and seek an equitable trust and damages to aid creditor repayment, while DCG denies wrongdoing and vows to defend the claims vigorously.
- This legal battle highlights complex financial entanglements within crypto firms and could set precedent affecting creditors, regulatory views, and market confidence in crypto lending.
18 Articles
18 Articles
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Genesis Global Capital LLC et al v. Digital Currency Group Inc. et al: Complaint (‘$1.2B Fraudulent & Preferential Transfers’) - OffshoreAlert
Complaint "to avoid and recover “in kind” preferential and fraudulent transfers of cryptocurrency and U.S. Dollars now worth more than one billion dollars" in Genesis Global Capital LLC and Genesis Asia Pacific Pte. Ltd., of Singapore v. Digital Currency Group Inc., Barry Silbert, DCG International Investments Ltd., of Bermuda; HQ Enhanced Yield Fund LP, formerly known as HQ Cash Management Fund LP; Grayscale Operating LLC, formerly known as Gray
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Genesis Exposes Financial Missteps in Crypto Giant’s Legal B
Genesis sued DCG and executives for $3.2 billion, alleging fraudulent crypto transactions. The lawsuits focus on financial missteps before Genesis's bankruptcy filing. Continue Reading:Genesis Exposes Financial Missteps in Crypto Giant’s Legal Battle The post Genesis Exposes Financial Missteps...
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