Digital Currency Group (DCG) has filed a lawsuit against its subsidiary Genesis, a crypto lender, over a $1.1 billion loan provided in 2022. DCG claims the loan has sufficiently covered losses incurred by Genesis following its collapse, asserting that Genesis has actually profited from the situation due to rising collateral values linked to Three Arrows Capital, a firm that defaulted on its debts. In its legal action, DCG contends that the assets from Three Arrows were worth more than the obligations, thus eliminating its debt to Genesis. This lawsuit follows Genesis's previous claim against DCG for $3.1 billion, accusing the parent company of fraudulent financial transfers during the downturn in the crypto market. DCG has emphasized its efforts to assist Genesis while maintaining that it has fulfilled all contractual responsibilities related to the loan and is seeking judicial confirmation of this satisfaction.

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