The time period sheet additionally includes refinancing the excellent loans the place DCG borrowed $500 million in money and about $100 million price of bitcoin (BTC) from Genesis, the individual mentioned. Included is “an equitization of the notorious 10-year promissory notice that DCG gave Genesis in return for failed hedge fund 3AC claims,” the individual mentioned, with out offering particulars of the method. The promissory notice was for $1.1 billion, whereas 3AC refers to Three Arrows Capital, a crypto hedge fund that collapsed final yr.
