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Digital Currency Group (DCG) has filed a lawsuit against its subsidiary Genesis Global Capital, demanding repayment of over $105 million tied to a $1.1 billion promissory note. The legal battle stems from the fallout of Three Arrows Capital’s collapse in 2022, where Genesis suffered heavy losses.
- DCG argues that $2.8 billion in recoveries from 3AC's collateral invalidates the $1.1 billion promissory note.
- Genesis claims DCG has already transferred $100 million under the note, reinforcing its validity.
- The dispute follows Genesis' earlier $3.1 billion fraud lawsuit against DCG and CEO Barry Silbert.
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