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Genesis is allegedly owed $2.8 billion in outstanding loans

Recent reports led to believe that Genesis Global was on the brink of bankruptcy. A report from Bloomberg stated that the lending arm of Digital Currency Group (DCG) had loaned nearly $2.3 billion to Three Arrows Capital (3AC), which went bankrupt at that time.
DCG’s CEO Barry Silbert declared that they had a liability of $575 million to Genesis, along with a $1.1 billion promissory note due June 2023, directly linked to the consequence of 3AC’s bankruptcy.
Silbert also revealed that he expects $800 million in revenue for 2022.

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