DCG: As of June, all short-term debt has been repaid, and the only remaining debt is the $1.1 billion promissory note from Genesis

Digital Currency Group (DCG) announced in its quarterly shareholder letter this week that as of June, the company has fully repaid short-term debt. Over the past 18 months, the company has repaid more than $1 billion to creditors, particularly boosted by strong performance in the first half of this year. DCG said the only remaining debt is an $1.1 billion note due in 2032, paid for its bankrupt crypto lending unit Genesis. It is reported that Genesis had lent assets worth billions of dollars to 3AC, causing it to suffer heavy losses. DCG helped its subsidiary maintain operations by lending cash and presenting an $1.1 billion note, but a few months later, when FTX and its sister company Alameda Research collapsed in November, Genesis was forced to close its withdrawal function and enter bankruptcy proceedings.