Digital Currency Group has sued its subsidiary Genesis, claiming that despite the collapse of the crypto lender, Genesis has ultimately profited in the long-term and the $1.1 billion loan given by DCG was enough to cover its losses. Genesis went bankrupt in 2023 due to loans to firms like Three Arrows Capital during the bear market and “crypto contagion.” DCG argued in a lawsuit that assets recovered from Three Arrows Capital have risen in value, reducing its obligations to zero. Genesis had made billions in loans to struggling firms, leading to the collapse. Genesis is now suing DCG for over $3.1 billion.

Read more at Yahoo Finance: Why Digital Currency Group Is Suing Its Own Subsidiary Over $1.1 Billion Loan