Grayscale is in its plan to collect $ 33 billion in its public subscription, but the legal pressures associated with the collapse of the world capital of Genesis threatens the possibility of achieving this objective, according to the Financial Times, while the founder of DCG Barry Silbert directs the general supply of the company. Grayscale, which will represent the first major subscription for a digital asset management company, threatens the laws of the genesis society these efforts.
The exacerbation of DCG’s legal problems in collaboration with Genesis posted prosecution of $ 1.2 billion before the gray subscription
The Judicial Supervisory Committee (LOC) of Genesis filed two separate proceedings, one of the courts of the state of Dillauir for business affairs and the second for the federal banking court in the southern New York sector; Dilayer’s complaint stipulates the accusation of Silbert, DCG and other internal actors using the bankruptcy company “as” treasure “of DCG, and Genesis affirms that this group” managed the company imprudent, exploited and failed “, and the trial indicates an alteration of financial disclosure and mid-term, while the committees require” The links of links which have trials, which require their crisis “under Genesis.
In addition, the prosecution of the bankruptcy court aims to restore $ 1.2 billion in the value of criminal transactions before the collapse of Genesis, and this amount includes illegal payments under the name of the “tax participation agreement” according to which the prosecution refuses the existence of the existence of the accusation of the ground. Digital; Where one of the representatives of the DCG said that the company and its consultants worked “hard to try to save Genesis and prevent its bankruptcy” during the general market disruption period.
This new legal pressure coincided with Silbert’s recent return to the Graycale board of directors as president, stressing his role in the direction of the company’s initial public offer. On the other hand, analysts believe that investors and organizers will closely monitor the nested financial relations between DCG and Genesis and the disclosure submitted to investors before moving forward with the expected subscription.
The beginning of this legal conflict is due to the collapse of the capital of the three arrows in June 2022; Where the fund was due to the payment of loans worth 2.36 billion dollars in Genesis. Here, the DCG group has entered to support its subsidiary by issuing an atrophone obligation of $ 1.1 billion to cover part of the losses, and this point has become a subject of controversy and tension in many judicial battles.
@Ftx_officialThe legal team of the S is postponing a claim of $ 1.5 billion from the late Hedge Fund three Arrows Capital (3AC), calling it an imbalance.#FTX # 3achttps://t.co/wbtcgd1nej – cryptonews.com (@cryptonews) June 23, 2025
For its part, Genesis affirms that DCG and its managers used this obligation to cover the size of the financial problems that the company underwent before bankruptcy, and DCG responded to a counter-law in August 2025 calling for an exemptions of the previous deposit of $ 1.1 billion, as well as $ 105 million in alleged payments.
The parent company claims that the amounts recovered from three capital arrows were estimated at 2.8 billion dollars by May 2024, and the value of the ear deposit was completely canceled under the agreement between the two parties, while DCG declared that it had paid – by mistake – 106 million additional dollars after the deposit was zero and which was now sought to recover these funds.
The judicial chaos threatens to include gray levels on the scholarship and its subsidies useful for the collection of $ 33 billion
Genesis seeks to collect digital assets worth 2.2 billion dollars, as well as more than a million dollars of alleged transfers that they are fraudulent, thanks to two separate judicial invitations to Dillauer and New York, where Genesis accused DCG of withdrawing digital assets worth $ 450 million, as well as a transfer of around 300 million dollars compared to International transfers at a time when the company faced an approximately food cream.
The Genesis and Currency Digital Sected group for deceived investors on their financial health, resulting in a fine of $ 38 million.#SECOND #Cryptoregulationshttps://t.co/haqe03qsww – cryptonews.com (@cryptonews) January 17, 2025
Legal tightening has contributed to the exacerbation of the conflict; Where the American securities and exchanges committee (SEC) ordered a fine of DCG to 38 million dollars and the former CEO of Genesis Michael Moro at $ 500,000 in accusations of misleading investors on the financial stability of the company after the collapse of three capital arrows.
The requests submitted to the Court in the case of the Committee of Securities and Exchanges revealed that the DCG managers were aware of losses greater than a billion Dollars in Genesis, in collaboration with their complaint the security of the status of the company in terms of liquidity.
This legal disorder has also extended to many entities associated with Genesis; The FTX (FTX Recovery Trust) FTA (FTX Recovery Trust) filed a complaint against Genesis Digital Active at a value of $ 1.15 billion, and said that the founder of FTX SAM Freed (SAM BANKMAN at the FTX platform of Genes Digital Company at amplified prices between 2021 and 2022.
Finally, Grayscale goes ahead in his registration scheme despite the exacerbation of the judicial dispute; When the asset management company submitted the documents required for the securities and exchange committee in June.
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