TechFlow news — According to a court filing, cryptocurrency broker Genesis Global Trading has filed a $1.2 billion claim against the now-bankrupt Three Arrows Capital. Genesis's parent company, Digital Currency Group (DCG), has assumed part of Genesis's debt in this case, but it remains unclear how much debt is still held by Genesis.
The documents show that Genesis Asia Pacific Pte. Ltd., a subsidiary of Genesis Global, is claiming $1.14 billion in assets and collateralized AVAX and NEAR tokens worth a total of $91.3 million from Three Arrows.
Partial collateral for these loans included 17.4 million shares of GBTC, 446,928 shares of ETHE, 2.7 million AVAX tokens, and 13.9 million NEAR tokens—all of which have already been liquidated by Genesis.
Earlier reports indicated that Genesis had extended $2.36 billion in loans to Three Arrows Capital.
