According to documents submitted by DCG this week showed that DCG founder and CEO Barry Silbert discussed the challenges faced by Genesis and Gemini Earn, which operates in cooperation with DCG's lending business, during a lunch with Cameron Winklevoss (co-founder of Gemini) on October 20, 2022, and suggested that Genesis and Gemini merge and go public.

On January 6th, Digital Currency Group (DCG) announced that it has repaid all short-term loans to Genesis. DCG has repaid over $1 billion in debt to creditors in just over a year, including nearly $700 million to Genesis, and has fulfilled all current due debts.

Reuters reported that DCG founder and CEO Barry Silbert and Mark Murphy have resigned from the board of directors of Grayscale Investments. Shifke will replace Barry Silbert as chairman of Grayscale Investments.

Genesis and Digital Currency Group (DCG) have come to a settlement agreement over unpaid debts, but the deal still requires approval from creditors. DCG will pay its subsidiary, Genesis Global Capital, $295 million in US dollars and bitcoin by April to partially repay the $620 million owed. However, creditors must still agree to the deal. Gemini, a major Genesis creditor, has opposed the restructuring plans and is currently in a legal dispute with DCG over allegations of fraud. The Securities and Exchange Commission (SEC) has also sued both Gemini and Genesis for selling unregistered securities.

Digital Money Group has reached a new repayment agreement with its bankrupt subsidiary, Genesis Global Holdco LLC, as part of a settlement to end the lawsuit claiming around $620 million from DCG. Genesis lawyer Sean O'Neal stated at a hearing on Tuesday that the deal will provide around $200 million in funding for the bankrupt cryptocurrency lending institution in the coming weeks and requires DCG to complete unpaid payments by April 2024. If DCG defaults, Genesis can attempt to collect any unpaid amounts according to court documents. The proposed agreement aims to settle the lawsuit filed by Genesis in September to recover unpaid loans from its parent company. Court documents show that DCG has been making payments to Genesis since the lawsuit was filed, and as of November 28, DCG still owes its subsidiary $324.5 million.

A direct creditor of Genesis and member of the Fair Deal Group wrote a letter to the bankruptcy judge on Friday, drawing attention to the lawsuit filed against Genesis by the New York Attorney General yesterday. The letter claims that the lawsuit details how Genesis intentionally deceived creditors under the instruction of its parent company DCG. Creditors have told DL News that the NYAG "has done all the hard work for us". It is reported that most Genesis creditors are against the proposed bankruptcy plan.

DCG posted on X platform in response to the charges and accusations by the New York Attorney General, stating: "We fully refute these allegations and look forward to being exonerated in this case. DCG has always operated legally and with integrity. Over the past few months, we have actively cooperated with the New York prosecutor's investigation in an open and transparent manner. We were caught off guard by this lawsuit and there is no evidence that DCG, Barry Silbert or its employees engaged in any improper behavior." DCG Founder and CEO Barry Silbert's statement said: "I am shocked by the baseless accusations made by the New York prosecutor and plan to fight back in court. Honesty and integrity have always been my guiding principles. Last year, my goal with DCG was to help Genesis weather the storm caused by Three Arrows Capital and prepare for its future success. Unfortunately, this lawsuit ignores this fundamental fact."