Crypto lender Genesis Global Capital sued its parent company, Digital Currency Group, in two courts in a bid to recover billions of dollars for creditors.
In a complaint made public Monday in the Delaware Chancery Court, Genesis is seeking 1 million coins, valued at approximately $2.1 billion, to pay back creditors.
The Delaware suit accuses DCG, its founder and CEO Barry Silbert, and other insiders of reckless loan activities, lacking reasonable risk management, and using “other people’s money” to enrich themselves.
The complaint, which is partially redacted, also accused Silbert and others of intentionally misleading customers about the company’s financial ...
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