### According to a [report](https://www.bloomberg.com/news/articles/2022-11-22/genesis-balance-sheet-reveals-web-of-loans-across-silbert-empire-dcg) by Bloomberg, Genesis Global has a $2.8 billion liability on its balance sheet. Genesis Global Capital has hired investment bank Moelis & Company to study its options, including bankruptcy.

Bloomberg reports that Genesis Global, a brokerage firm, has $2.8 billion in outstanding loans listed on its balance sheet. It also said that about 30% of its lending was to related entities, including its parent company, Barry Silbert’s Digital Currency Group (DCG).

Genesis Global Capital, a lending subsidiary of Genesis Global, lent money to Genesis Global Trading, a brokerage unit. Silbert's letter to shareholders detailed that DCG is liable to Genesis for $575 million. 

Silbert mentioned a $1.1 billion promissory note due in June 2032. This was for when the parent company assumed the liabilities from Genesis when Three Arrows Capital, a digital-assets hedge fund, collapsed. 

Silbert emphasized that there was nothing unusual about these loans. He said the loans were “in the ordinary course of business.” 

He also had an optimistic view of the business. According to the letter, DCG is on track to see $800 million in revenue this year. Silbert also wrote, “we have weathered previous crypto winters and while this one may feel more severe, collectively we will come out of it stronger.”

However, there is another layer of complication to the situation. The New York Times reported on Tuesday that after pausing withdrawals last week, Genesis Global Capital had hired investment bank Moelis & Company to study its options, including bankruptcy.

Some investors were reportedly concerned about the ties between the companies. Some expressed that it is possible that investors may owe Silbert's firm more money if their investment in Genesis fails because of the loan between DGC and Genesis. 



According to a report by Bloomberg, Genesis Global has a $2.8 billion liability on its balance sheet. Genesis Global Capital has hired investment bank Moelis & Company to study its options, including bankruptcy.

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Wed Nov 23 2022 Genesis Global has $2.8 Billion in Outstanding Loans; Genesis Global Capital Hires Restructuring Adviser

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Prototype Global Cryptoasset Mapping System Developed

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Wed Nov 23 2022

Genesis Global has $2.8 Billion in Outstanding Loans; Genesis Global Capital Hires Restructuring Adviser