{"id":27717,"date":"2025-05-20T15:31:52","date_gmt":"2025-05-20T15:31:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27717"},"modified":"2025-05-20T15:31:52","modified_gmt":"2025-05-20T15:31:52","slug":"genesis-accuses-dcg-barry-silbert-of-fraud-seeks-1-2b-in-crypto-transfers-made-during-insolvency","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27717","title":{"rendered":"Genesis Accuses DCG, Barry Silbert Of Fraud, Seeks $1.2B In Crypto Transfers Made During Insolvency"},"content":{"rendered":"<div>\n<p>Genesis&#8217;s Litigation Oversight Committee (LOC) has filed two lawsuits against <strong>Digital Currency Group<\/strong> (DCG), its CEO <strong>Barry Silbert<\/strong>, and a group of insiders, alleging systematic fraud, breach of fiduciary duty and insider enrichment that caused over $1 billion in <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/05\/38919708\/ny-ag-secures-2b-settlement-against-genesis-trading-largest-in-new-yorks-crypto-history\">losses to Genesis creditors<\/a>.<\/p>\n<p>In a <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250519165640\/en\/Genesis-LOCs-Two-Major-Lawsuits-Against-DCG-Barry-Silbert-and-a-Network-of-Insiders-Now-Available-to-the-Public\">complaint<\/a> filed in the Delaware Chancery Court, the LOC claims that Silbert operated Genesis as a financing arm for DCG, engaging in off-market loans and draining assets for the benefit of Grayscale and other DCG affiliates.<\/p>\n<p>The lawsuit seeks to recover over 1 million crypto coins valued at roughly $2.1 billion as of February 2025.<\/p>\n<p>Benzinga has reached out to DCG for a comment.<\/p>\n<p>&#8220;Silbert used Genesis to enrich himself and finance his broader &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/05\/45522456\/genesis-accuses-dcg-barry-silbert-of-fraud-seeks-1-2b-in-crypto-transfers-made-during-inso\" alt=\"Genesis\" accuses dcg barry silbert of fraud seeks in crypto transfers made during insolvency>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Genesis&#8217;s Litigation Oversight Committee (LOC) has filed two lawsuits against Digital Currency Group (DCG), its CEO Barry Silbert, and a group of insiders, alleging systematic fraud, breach of fiduciary duty and insider enrichment that caused over $1 billion in losses to Genesis creditors. In a complaint filed in the Delaware Chancery Court, the LOC claims [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27717","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27717"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27717\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}