Genesis Global files $1.2B claim against Three Arrows Capital
Genesis Global Trading Inc., a subsidiary of Digital Currency Group Inc. has filed a $1.2 billion claim against the beleaguered hedge fund Three Arrows Capital
Genesis Global Trading Inc., a subsidiary of Digital Currency Group Inc. has filed a $1.2 billion claim against the beleaguered hedge fund Three Arrows Capital.
DCG’s Genesis Asia Pacific Ltd. lent Three Arrows $2.4 billion, according to court documents compiled by Three Arrows’ liquidator.
The filing was accessed by CoinDesk which is also a subsidiary of Genesis. It indicated that Genesis Asia Pacific Pte. Ltd., a subsidiary of Genesis Global, was seeking relief from Three Arrows regarding assets of $1.14 billion, as well as pledged AVAX and NEAR tokens worth a total of $91.3 million.
The filing named more than two dozen entities that in total had lent $3.5 billion worth of dollars and crypto assets to Three Arrows, as of Monday’s market value, though some of those loans may have been partially repaid.
