DCG Owes Genesis Global Over $1.65 Billion
Jan 20,2023,14:39
Bankruptcy filings for Genesis Global and its related entities show parent Digital Currency Group (DCG) owes its affiliate more than $1.65 billion. DCG's debt to Genesis includes loans of $575 million due in May of this year, and a $1.1 billion promissory note due June 2032.
The special committee is investigating the lending activities between GGC (Genesis Global Capital) and DCG in order to determine whether the bankrupt companies have any viable claims against DCG related to these transactions that could help with the restructuring.
