“In current days, there was chatter about intercompany loans between Genesis International Capital and DCG,” Silbert wrote. “For these unaware, within the peculiar course of enterprise, DCG has borrowed cash from Genesis International Capital in the identical vein as a whole bunch of crypto funding corporations. These loans had been at all times structured on an arm’s size foundation and priced at prevailing market rates of interest. DCG at present has a legal responsibility to Genesis International Capital of ~$575 million, which is due in Could 2023. These loans had been used to fund funding alternatives and to repurchase DCG inventory from non-employee shareholders in secondary transactions beforehand highlighted in quarterly shareholder updates.”
