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DCG/Genesis Knew of Alameda Insolvency in Late May 2022

In a shocking update, it has been revealed that DCG/Genesis knew of the insolvency of @FTX_Official and Alameda in late May of 2022 and began aggressively pressuring them for repayment of a $2.5B loan outstanding to Genesis shortly thereafter. The situation has become increasingly dire for both parties involved as time goes on without resolution; more information is expected soon regarding this matter

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Jan. 09, 2023 2:08AM

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A picture of two hands shaking with dollar bills falling out between them symbolizing a business deal gone wrong

A picture of two hands shaking with dollar bills falling out between them symbolizing a business deal gone wrong

In a shocking update, it has been revealed that DCG/Genesis knew of the insolvency of @FTX_Official and Alameda in late May of 2022. Barry and DCG began to aggressively pressure Alameda to pay off a $2.5B loan outstanding to Genesis. The news came as a surprise to many in the financial industry, as there had been no indication prior that Alameda was facing such financial difficulties. It is unclear how long DCG/Genesis had known about the situation, or why they waited until late May to begin pressuring for repayment. According to sources close to the situation, Barry and DCG have been actively trying to recover their money from Alameda since late May. They have reportedly used aggressive tactics such as threatening legal action if payment is not made by certain deadlines. However, it appears that these tactics have not yet yielded any results for them. The situation has become increasingly dire for both parties involved as time goes on without resolution. If an agreement cannot be reached soon between Barry and DCG/Genesis and @FTX_Official and Alameda, then it could lead to further complications down the line. It remains unclear what will happen next in this developing story, but more information is expected soon regarding this matter.