<ul><li>The Genesis Litigation Oversight Committee (LOC) has filed new lawsuits against Digital Currency Group (DCG), CEO Barry Silbert, and other executives to recover billions allegedly misappropriated from the crypto lending firm Genesis before its bankruptcy in 2023.</li><li>One lawsuit in Delaware Court of Chancery accuses Silbert and others of fraudulently managing Genesis, seeking to reclaim at least $2.2 billion in assets for creditor distribution.</li><li>Another lawsuit in the Bankruptcy Court for the Southern District of New York details over $1 billion in allegedly fraudulent transfers made by DCG and insiders during a time of existential risk for Genesis.</li><li>DCG has responded to the lawsuits, rejecting the allegations, as these legal disputes could have broader implications for the crypto industry and impact creditor recoveries.</li></ul>

Genesis LOC Files New Lawsuits Against DCG and Barry Silbert to Recover Billions

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