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You can find even more crypto news in our Telegram: https://t.me/cryptossource ******************* 🔥 The mission of our channel is to create educational and news crypto content, with maximum information content and minimum time consumption! Thus, you will not spend a lot of time in order to understand how the Crypto World works! ❗️ Don't forget to subscribe and click like! ******************* Digital Currency Group owes Genesis over $1.6 billion The head of Digital Currency Group, Barry Silbert, provided shareholders with more details about the loan company Genesis Capital. In a letter to investors, Silbert said last year was the hardest year of his life, both personally and professionally. Silbert said that DCG has taken out loans from Genesis Capital, but "these loans have always been structured on market terms and valued at prevailing market interest rates." He added that DCG has a $1.1 billion promissory note maturing in 2032 for Genesis Capital that arose from DCG taking over the bankruptcy lawsuit against hedge fund Three Arrows Capital. According to the letter, DCG also owes Genesis 447.5 million dollars in cash, borrowed between January and May 2022 at interest rates ranging from 10 percent to 12 percent. In addition, DCG owes the company 4550 BTC. "Because of the outstanding loans and notes that DCG owes to Genesis Capital, DCG executives, including Genesis board members, do not have the authority to make decisions on the restructuring of Genesis Capital," he said.