Cryptocurrency owners who loaned digital assets to Genesis Global Capital Inc. to earn interest have turned to the courts after Genesis’ recent bankruptcy filing, suing parent company Digital Currency Group Inc. on behalf of a proposed class.
DCG and its founder and CEO, Barry Silbert, violated securities laws by executing the lending agreements without registering them as securities and by misleading the token lenders, William McGreevy and other lenders say. They filed the complaint Monday in the US District Court for the District of Connecticut.
Genesis lent a risky 30% of its loan book to Three Arrows Capital, which filed ...
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