Genesis Global Capital
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anchored·3gGdKC…a6apSummary
Genesis Global Capital, LLC was the crypto lending arm of Digital Currency Group (DCG), founded in 2013 as the first institutional OTC bitcoin trading desk. Following catastrophic loan exposures to Three Arrows Capital and FTX in 2022, Genesis suspended customer withdrawals in November 2022 and filed for Chapter 11 bankruptcy in January 2023, owing approximately $3.4 billion to creditors. The company subsequently settled with the SEC for $21 million and with the New York Attorney General for $2 billion, completed a $4 billion restructuring distribution in August 2024, and in May 2025 its post-bankruptcy Litigation Oversight Committee filed dual lawsuits totaling $3.3 billion against parent DCG and CEO Barry Silbert alleging fraud and concealment of insolvency.
Connected Entities
1 entities · 1 linked investigation- + 7 more
Connected Through
1 shared actor · 1 investigationDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Genesis Global Capitalorganizationalso inGenesis Global Capital·8
Timeline(17 events)
2013
Genesis Global Trading founded as the first institutional OTC bitcoin trading desk in the United States.
WikipediaFebruary 2021
Genesis partners with Gemini to launch the Gemini Earn program, allowing retail users to lend crypto assets to Genesis at up to 8 percent interest.
CNBC29 June 2022
Reports emerge that Genesis faces hundreds of millions in losses from exposure to Three Arrows Capital.
CoinDesk6 July 2022
Genesis confirms Three Arrows Capital exposure and announces DCG assistance including assumption of $1.2 billion claim.
CoinDesk18 July 2022
Genesis files $1.2 billion claim against Three Arrows Capital; DCG issues $1.1 billion promissory note to cover the shortfall.
CoinDesk11 November 2022
DCG provides $140 million equity infusion into Genesis following FTX collapse.
Protos16 November 2022
Genesis suspends customer withdrawals and new loan originations citing market dislocation from FTX collapse. Gemini Earn program simultaneously halted, freezing approximately $900 million belonging to around 340,000 users.
CoinDesk12 January 2023
SEC charges Genesis Global Capital and Gemini Trust Company with violating the Securities Act of 1933 by offering unregistered securities through the Gemini Earn program.
CNBC19 January 2023
Genesis Global Holdco, LLC, Genesis Global Capital, LLC, and Genesis Asia Pacific Pte. Ltd. file Chapter 11 bankruptcy in the Southern District of New York, listing at least $3.4 billion owed to creditors.
CoinDesk19 October 2023
New York Attorney General Letitia James sues Gemini, Genesis, and DCG — including naming Barry Silbert and Michael Moro — for allegedly defrauding investors of more than $1 billion through Gemini Earn and concealing massive losses.
Fortune9 February 2024
NYAG amends its complaint, expanding the sought damages to approximately $3 billion and adding additional allegations against Barry Silbert and DCG.
Fortune20 May 2024
New York Attorney General announces $2 billion settlement with Genesis entities to establish a Victims' Fund for defrauded investors. Genesis is permanently banned from operating in New York.
NY Attorney General2 August 2024
Genesis completes restructuring and commences approximately $4 billion in distributions to creditors in digital assets and U.S. dollars.
Business Wire19 May 2025
Genesis Litigation Oversight Committee files dual lawsuits in Delaware Chancery Court and the U.S. Bankruptcy Court for the Southern District of New York seeking $3.3 billion from DCG, Barry Silbert, and network of insiders for alleged fraud and fraudulent transfers.
CoinDeskDecision Log
- hash: k4D5McC8h9fxHJGebPu48nU8Ak4yZLcKceCCMvd38LM
- hash: H8oXB43uDbNabvJ8W5Gt8phkuhdJxZuPD9kgnjV2871N
- hash: 6vHLYo7VDhxuof7gavC4Fv4ZPRKfbm6Yx8ynSzdquEJJ
This investigation is cryptographically anchored to the Solana blockchain (3 events). 22 of 26 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/8/2026, 2:31:31 AM
last updated: 7/25/2026, 9:02:24 AM
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