A 31-part Twitter thread by Genesis creditor Vijay Boyapati alleges Digital Currency Group (DCG) and its CEO Barry Silbert perpetrated fraud to hide massive Genesis losses stemming from Three Arrows Capitals (3AC) implosion.
Boyapati argues DCG provided a bogus $1.1 billion promissory note to paper over Genesis insolvency, misleading creditors and buying time. The scheme aimed to prevent DCGs own default after Genesis was crippled by 3ACs collapse.