TechFlow, August 15 — According to The Block, Digital Currency Group (DCG) has filed a lawsuit against its subsidiary Genesis Global Capital in the U.S. Bankruptcy Court for the Southern District of New York, seeking over $105 million plus interest from Genesis.
The lawsuit states that DCG previously provided Genesis with an $1.1 billion promissory note to cover asset shortfalls at Genesis caused by the 2022 default of Three Arrows Capital (3AC). Subsequently, Genesis obtained substantial proceeds through TAC Collateral, exceeding the original amount of the promissory note.
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