Genesis Sues Digital Currency Group and CEO Barry Silbert Over $3.1 Billion Fraud and Mismanagement Claims – Crypto News – Crypto News
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Genesis Sues Digital Currency Group and CEO Barry Silbert Over $3.1 Billion Fraud and Mismanagement Claims Genesis Sues Digital Currency Group and CEO Barry Silbert Over $3.1 Billion Fraud and Mismanagement Claims

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Genesis Sues Digital Currency Group and CEO Barry Silbert Over $3.1 Billion Fraud and Mismanagement Claims – Crypto News

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Genesis Global Capital, a cryptocurrency lender, has filed lawsuits against its parent company, Digital Currency Group (DCG), and DCG CEO Barry Silbert

Genesis Global Capital, a cryptocurrency lender, has filed lawsuits against its parent company, Digital Currency Group (DCG), and DCG CEO Barry Silbert. The lawsuits, filed in two courts, seek to recover over $3.1 billion related to note and asset transfers. Genesis alleges insider self-dealing, fraud, and mismanagement by Silbert, accusing him of improper transfers exceeding $1 billion while the company was insolvent. These legal actions come amid broader accusations that Silbert misrepresented the financial status of his companies, contributing to the collapse of the 2022 cryptocurrency market. The litigation reflects ongoing tensions within the crypto industry and highlights disputes over financial transparency and corporate governance at DCG and its subsidiaries.

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