Home Crypto Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B

Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B

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Specifically, the focus of the investigation is: “GGC’s lending of approximately $850 million in unsecured loans to the DCG Entities, the DCG [promissory] note, various transactions that restructured the $850 million in unsecured loans in November 2022, DCG’s purported exercise of a $52.5 million set off in November 2022, the treatment” of the DCG note by GGC and DCG entities “for accounting and other purposes and related communications with lenders, dividends paid by the Debtors [GGC, GGH, and GAP] to DCG, and other conduct between the DCG Entities and the Company.”

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