Digital Currency Group (DCG) announced in its quarterly shareholder letter this week that it had fully repaid its short-term debt as of June, having repaid more than $1 billion to creditors over the past 18 months, particularly buoyed by strong results in the first half of the year. DCG said the only remaining debt is a $1.10 billion promissory note due in 2032 for its bankrupt crypto lending arm Genesis. Genesis is understood to have lent billions of dollars worth of assets to 3AC, causing it to suffer heavy losses. DCG helped keep its subsidiary afloat by borrowing cash and presenting $1.10 billion promissory notes. But when FTX and its sister company Alameda Research collapsed in November a few months later, Genesis was forced to shut down withdrawals and enter bankruptcy proceedings.