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.

What happens if DCG defaults?

Genesis lawyer Sean O’Neal said during a Tuesday hearing that the deal will provide the bankrupt crypto lender with roughly $200 million in value over the next few weeks and requires DCG to complete outstanding payments in April 2024. If DCG defaults, Genesis can try to collect any unpaid amount, according to court papers.

How much does DCG owe Genesis?

DCG, which has been making payments to Genesis since the lawsuit was filed, still owes its subsidiary $324.5 million as of Nov. 28, according to court documents. Genesis said the agreement will avoid months of costly litigation with its parent company and guarantees the bankrupt crypto lender will be partially repaid what it’s owed.

Is digital currency group suing Genesis Global Capital?

NEW YORK, Sept 6 (Reuters) - Digital Currency Group was sued on Wednesday by its bankrupt Genesis Global Capital cryptocurrency lending unit, as both sides negotiate DCG's repayment on more than $610 million of loans that matured in May.