Genesis Suing Parent Company DCG and Affiliate for $600M in Loans, Then Halts Action

Bankrupt cryptocurrency lender Genesis Global Capital (GGC) initiated two lawsuits on September 6, aiming to recover overdue loans amounting to over $600 million from affiliated entities.

The legal actions were filed against Digital Currency Group (DCG) and DCG International Investments (DCGI) in the U.S. Bankruptcy Court for the Southern District of New York. Both GGC and DCGI are subsidiaries of DCG.