DCG: The company has repaid all short-term debts, and 99% of Genesis creditors have been fully compensated

BlockBeats reported that on August 24, according to a shareholder letter released by DCG, the company had repaid all short-term debts as of June. In the past 18 months, the company has repaid more than $1 billion to creditors. The only remaining debt is a $1.1 billion promissory note, which is due in 2032, when its crypto lending division Genesis will go bankrupt. Since payments began in August, Genesis and DCG have been able to fully repay most of Genesis's creditors, including cryptocurrency trading platform Gemini. More than 99% of the more than 200,000 Genesis creditors have been fully compensated. In addition, most cryptocurrency creditors who did not receive full in-kind compensation have also received substantial compensation, and in most cases, the return on these compensations has exceeded 100% relative to the price on the filing date.