What's going on with Genesis & DCG?

The outstanding debt includes a $500 million loan to DCG and loan to DCGI comprised of about 4,550 Bitcoin, according to the lawsuits. Genesis is also seeking to recover accrued interest and late fees. The complaint comes after months of court-ordered mediation involving Genesis, its key creditors and DCG.

Does Genesis have a restructuring plan?

Feb 6 (Reuters) - Bankrupt crypto lender Genesis has reached an agreement in principle on a restructuring plan supported by its parent company, Digital Currency Group, and its primary creditors, including Gemini, an attorney for the company said on Monday.

How much money does Genesis owe?

Genesis owes over $3 billion to its top 50 creditors overall. That money, under DCG’s proposed repayment plan, would be paid across two tranches and seven years, and would eventually make Gemini Earn users "nearly whole," according to DCG's lawyers.

Is DCG bankrupt?

DCG, owned by Barry Silbert, owns a portfolio of crypto companies in addition to Genesis, including crypto news and events site CoinDesk and New York-based Grayscale, a major digital asset manager. Those companies are not bankrupt.