← Genesis Global Capitalreviewed 2026-10-16 · 22 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Genesis Global Capital against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
4 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #10[disputed][awaiting moderator]in section: FTX Collapse and Withdrawal Suspension
“Following the collapse of FTX in November 2022, Genesis disclosed it had approximately $175 million in locked funds in its FTX trading account and approximately $37 million in loans to Alameda Research, with an estimated $7 million net loss on the Alameda positions.”
reviewerGenesis disclosed $175 million locked in its FTX trading account and approximately $37 million in loans to Alameda Research, with an estimated $7 million net loss on the Alameda positionsNo source consulted -- including the article cited by the page -- supports a specific $37 million loan from Genesis to Alameda Research, and a contemporaneous report quotes Genesis denying an ongoing lending relationship with Alameda. The $7M loss figure is real but was reported as spanning all counterparties, not Alameda specifically.Proposed correction (not yet applied)Following the collapse of FTX in November 2022, Genesis disclosed it had approximately $175 million in locked funds in its FTX trading account and reported an estimated $7 million net loss across its counterparties, including Alameda Research, after hedging and selling collateral. - #19[disputed][awaiting moderator]in section: $3.3 Billion Lawsuit Against DCG
“On May 19, 2025, the Genesis Litigation Oversight Committee (LOC), represented by law firm Selendy Gay PLLC, filed two lawsuits seeking to recover a combined $3.3 billion from DCG, Barry Silbert, and a network of corporate insiders.”
reviewerOn May 19, 2025, the Genesis LOC filed two lawsuits (Delaware Chancery and SDNY bankruptcy court) seeking a combined $3.3 billionThe page's own cited primary source for this section states the two complaints were filed on different dates (May 13 and May 19), not both on May 19 as stated.Proposed correction (not yet applied)On May 13 and May 19, 2025, the Genesis Litigation Oversight Committee (LOC), represented by law firm Selendy Gay PLLC, filed two lawsuits seeking to recover a combined $3.3 billion from DCG, Barry Silbert, and a network of corporate insiders. - #21[disputed][awaiting moderator]in section: $3.3 Billion Lawsuit Against DCG
“Separately, DCG filed a counter-lawsuit against Genesis seeking repayment of the $1.1 billion promissory note.”
reviewerDCG filed a counter-lawsuit against Genesis seeking repayment of the $1.1 billion promissory noteNo source in the page's citation list was found for this sentence. The actual DCG filing both postdates the May 2025 lawsuits by about three months and seeks a different, much smaller amount (~$105 million) on the theory the note is already satisfied, rather than demanding repayment of the full $1.1 billion.Proposed correction (not yet applied)Separately, in August 2025, DCG filed its own lawsuit against Genesis, arguing the $1.1 billion promissory note had already been satisfied through offsetting gains and seeking recovery of more than $105 million plus interest. - #22[disputed][awaiting moderator]in the timeline
“2025-05-19”
reviewerTimeline: Genesis LOC filed dual lawsuits in Delaware Chancery Court and SDNY bankruptcy court on 2025-05-19 seeking $3.3 billionSame underlying date error as the corresponding section 8 narrative sentence; the single timeline date field should reflect the earlier of the two actual filing dates (May 13) rather than May 19 for both.Proposed correction (not yet applied)2025-05-13
unverifiable
2 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #6[unverifiable][awaiting moderator]in section: Background and Business Operations
“By the end of Q2 2019, outstanding loans had grown 149 percent quarter-over-quarter to $452 million.”
reviewerBy the end of Q2 2019, Genesis's outstanding loans had grown 149 percent quarter-over-quarter to $452 millionThe $452M figure is numerically close to reported Q1/Q3 2019 snapshot figures from other Genesis quarterly lending reports, raising the possibility the quarter is mislabeled, but no primary 'Digital Asset Lending Snapshot' for Q2 2019 could be located to confirm or refute the exact figure or growth rate. - #20[unverifiable][awaiting moderator]in section: $3.3 Billion Lawsuit Against DCG
“The LOC alleged that over one million digital coins — worth approximately $2.1 billion — were funneled out of Genesis to DCG and its insiders during the period leading up to the bankruptcy filing, timed to coincide with market stress events including the Terra-Luna collapse, the Three Arrows Capital default, and FTX's implosion.”
reviewerThe LOC alleged over one million digital coins worth approximately $2.1 billion were funneled out of Genesis during the period leading up to bankruptcy, timed to coincide with market stress events, as part of the second (SDNY) complaintSources consulted disagree on which of the two complaints the 'over one million coins / ~$2.1 billion' figure belongs to; this could not be resolved with confidence either way.
confirmed
16 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the summary
“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.”
reviewerGenesis Global Capital was the crypto lending arm of DCG, founded in 2013 as the first institutional OTC bitcoin trading deskWidely corroborated across independent sources; no contradiction found. - #2[confirmed][no action needed]in the summary
“filed for Chapter 11 bankruptcy in January 2023, owing approximately $3.4 billion to creditors”
reviewerGenesis owed approximately $3.4 billion to creditors at the time of its bankruptcy filingConsistent with contemporaneous bankruptcy reporting. - #3[confirmed][no action needed]in the summary
“The company subsequently settled with the SEC for $21 million and with the New York Attorney General for $2 billion”
reviewerGenesis settled with the SEC for $21 million and with the NYAG for $2 billionBoth figures are confirmed by primary regulatory sources. - #4[confirmed][no action needed]in the summary
“completed a $4 billion restructuring distribution in August 2024”
reviewerGenesis completed a $4 billion restructuring distribution in August 2024Confirmed by multiple independent outlets. - #5[confirmed][no action needed]in section: Background and Business Operations
“Genesis expanded from trading into lending with the launch of Genesis Capital in March 2018.”
reviewerGenesis expanded into lending with the launch of Genesis Capital in March 2018No contradicting source found. - #7[confirmed][no action needed]in section: Background and Business Operations
“In February 2021, Genesis partnered with Gemini Trust Company to power the 'Gemini Earn' program, which allowed approximately 340,000 retail users to lend digital assets to Genesis at interest rates as high as 8 percent. At its peak, Genesis held approximately $900 million in Gemini Earn assets.”
reviewerGemini Earn (launched Feb 2021) allowed ~340,000 retail users to lend to Genesis at rates up to 8%, peaking at ~$900 million in assetsFigures are well corroborated by independent 2022-2023 reporting. - #8[confirmed][no action needed]in section: Three Arrows Capital Exposure
“Genesis Asia Pacific Pte. Ltd. had extended roughly $2.36 billion in loans to Three Arrows Capital on an undercollateralized basis.”
reviewerGenesis Asia Pacific extended roughly $2.36 billion in undercollateralized loans to Three Arrows Capital; the $1.2 billion claim was replaced with a $1.1 billion, 10-year, 1% promissory noteFigures confirmed by both contemporaneous 2022 reporting and DCG's own later court filings. - #9[confirmed][no action needed]in section: Three Arrows Capital Exposure
“DCG and Genesis allegedly characterized this long-dated, low-interest promissory note as a current asset on Genesis's balance sheet, misleading creditors and counterparties about the company's financial health.”
reviewerDCG and Genesis allegedly characterized the promissory note as a current asset, misleading creditors about Genesis's financial healthCorrectly hedged as an allegation; matches the NYAG complaint's core theory. - #11[confirmed][no action needed]in section: FTX Collapse and Withdrawal Suspension
“On November 11, 2022, DCG provided a $140 million equity infusion into Genesis.”
reviewerOn November 11, 2022, DCG provided a $140 million equity infusion into GenesisDate and amount confirmed. - #12[confirmed][no action needed]in section: FTX Collapse and Withdrawal Suspension
“On November 16, 2022, Genesis announced it was suspending customer withdrawals and new loan originations, citing 'extreme market dislocation and loss of industry confidence' caused by the FTX collapse.”
reviewerOn November 16, 2022, Genesis suspended customer withdrawals and new loan originations, citing extreme market dislocation and loss of industry confidenceDirectly confirmed by the cited article. - #13[confirmed][no action needed]in section: Chapter 11 Bankruptcy Filing
“On January 19, 2023, Genesis Global Holdco, LLC, Genesis Global Capital, LLC, and Genesis Asia Pacific Pte. Ltd. filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of New York. At the time of filing, Genesis owed at least $3.4 billion to creditors.”
reviewerGenesis Global Holdco, Genesis Global Capital, and Genesis Asia Pacific filed Chapter 11 on January 19, 2023, owing at least $3.4 billion to creditorsConfirmed by multiple independent outlets. - #14[confirmed][no action needed]in section: SEC Charges and $21 Million Settlement
“Genesis agreed to pay a $21 million civil penalty to settle the charges. The settlement was approved by the bankruptcy court judge in March 2024. Under the settlement terms, payment of the SEC penalty was subordinated to the payment of all allowed claims by the bankruptcy court, meaning creditors would be paid first.”
reviewerSEC charged Genesis and Gemini on January 12, 2023; Genesis agreed to a $21 million penalty, approved by the bankruptcy court in March 2024 and subordinated to creditor claimsConfirmed by primary regulatory source. - #15[confirmed][no action needed]in section: New York Attorney General $2 Billion Settlement
“On May 20, 2024, the NYAG announced a settlement worth up to $2 billion with Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement established a Victims' Fund intended to provide recoveries for defrauded investors, including at least 29,000 New Yorkers who contributed more than $1.1 billion through Gemini Earn.”
reviewerNYAG announced a $2 billion settlement on May 20, 2024 covering at least 29,000 New Yorkers who contributed more than $1.1 billion through Gemini Earn; Genesis permanently banned from NY; approved May 21, 2024Fully confirmed by the primary regulatory source. - #16[confirmed][no action needed]in section: Creditor Restructuring and $4 Billion Distribution
“Average recoveries varied significantly by asset class: Bitcoin creditors received approximately 51.28 percent of their claims on an in-kind basis; Ethereum creditors received approximately 65.87 percent; Solana creditors received approximately 29.58 percent; stablecoin and U.S. dollar creditors received 100 percent of their claims.”
reviewerGenesis's restructuring plan was confirmed May 21, 2024, completed August 2, 2024, distributing ~$4 billion with BTC 51.28%, ETH 65.87%, SOL 29.58%, and 100% for stablecoin/USD claimsPrecisely confirmed by an independent outlet (Banking Dive) in addition to the cited Business Wire release. - #17[confirmed][no action needed]in section: Creditor Restructuring and $4 Billion Distribution
“Key settlements incorporated into the plan included a $175 million settlement with FTX's estate, a $33 million settlement with Three Arrows Capital, a $2.2 billion settlement with Gemini, the $21 million SEC penalty, and the $2 billion NYAG settlement. A $70 million litigation fund was established as part of the plan to pursue ongoing legal actions against third parties, including DCG.”
reviewerRestructuring plan incorporated a $175M FTX settlement, $33M 3AC settlement, $2.2B Gemini settlement, $21M SEC penalty, $2B NYAG settlement, and a $70M litigation fundAll figures independently corroborated. - #18[confirmed][no action needed]in section: DCG and Barry Silbert: Role and Allegations
“DCG denied all allegations, with a spokesperson characterizing the lawsuits as recycling 'tired, two-year old claims' and stating that 'DCG has always conducted its business lawfully and with integrity.'”
reviewerIn May 2025 the Genesis LOC filed two lawsuits against DCG and Silbert alleging a financing-vehicle scheme benefiting Grayscale and $1.2B+ in withdrawals timed around market shocks; DCG denied the allegations calling them 'tired, two-year old claims'The 'tired, two-year old claims' quote is independently corroborated nearly verbatim; the second half of the quote was not independently located but is consistent in tone and substance with DCG's documented public position.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.