DCG repays all short-term loans to Genesis

Digital Currency Group said Friday that it has paid off its short-term loans from its bankrupt subsidiary Genesis.

The disclosure means that DCG’s total debt payoff to creditors is more than $1 billion, including almost $700 million paid to Genesis alone, the company added. 

Genesis in September sued its parent company in an effort to recoup an outstanding loan balance of more than $610 million that matured in May 2023. The September court filings show that DCG owed more than $1.7 billion to Genesis and other creditors. 

Genesis, in a separate complaint filed in September, also sought to recover 4,550 BTC, worth about $199 million as of Friday. 

The crypto lender came to an…

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