Genesis Global Capital
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. 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
Timeline(17 events)
2013-01-01
Genesis Global Trading founded as the first institutional OTC bitcoin trading desk in the United States.
Wikipedia2021-02-01
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.
CNBC2022-06-29
Reports emerge that Genesis faces hundreds of millions in losses from exposure to Three Arrows Capital.
CoinDesk2022-07-06
Genesis confirms Three Arrows Capital exposure and announces DCG assistance including assumption of $1.2 billion claim.
CoinDesk2022-07-18
Genesis files $1.2 billion claim against Three Arrows Capital; DCG issues $1.1 billion promissory note to cover the shortfall.
CoinDesk2022-11-16
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.
CoinDesk2023-01-12
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.
CNBC2023-01-19
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.
CoinDesk2023-10-19
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.
Fortune2024-02-09
NYAG amends its complaint, expanding the sought damages to approximately $3 billion and adding additional allegations against Barry Silbert and DCG.
Fortune2024-05-20
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 General2024-08-02
Genesis completes restructuring and commences approximately $4 billion in distributions to creditors in digital assets and U.S. dollars.
Business Wire2025-05-19
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 and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/8/2026, 2:31:31 AM
last updated: 5/30/2026, 1:03:57 PM
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