This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Genesis has filed two lawsuits against its parent company, Digital Currency Group (DCG), and CEO Barry Silbert, alleging fraud, mismanagement, and concealed transfers worth over $3.3 billion. The complaints accuse DCG of using Genesis as a ‘corporate ATM’ while misleading stakeholders about its financial health.
- Genesis accuses DCG and Barry Silbert of fraud, mismanagement, and siphoning over $3.3 billion in value.
- Court filings allege DCG used Genesis as a 'corporate ATM' through concealed loans and transfers.
- Creditors claim $2.1 billion in digital assets were diverted as Genesis approached bankruptcy.
📎 Related coverage from: cointelegraph.com