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Genesis Global Capital Files for Over $600M in Unpaid DCG Loans

Genesis Global Capital filed a suit against Digital Currency Group (DCG) and Digital Currency Group International (DCGI), seeking the repayment of multiple loans with a principal amount of over $600 million. The pair of filings on Thursday allege that DCG borrowed up to $500 million across four different loans from Genesis in 2022, while DCGI borrowed 18,697.7 BTC in 2019. DCG and Genesis entered into master loan agreements on Nov. 10 last year, and each of these 2022 loans had an extended or normal maturity date of May 9 or 10, 2023. As of Wednesday, DCG owed Genesis $500 million, while DCGI owed 4,550.5 BTC, the two filings said.

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