PANews reported on January 11 that according to CoinDesk, DCG CEO Barry Silbert introduced more details of Genesis Capital's loan department in a letter to investors. He pointed out that DCG has laid off employees and is closing the headquarters of its crypto asset management company. DCG subsidiaries have never mixed funds, and its relationship with Three Arrows Capital is limited to a loan and trading agreement. Three Arrows Capital has also invested in some grayscale products. In the Q&A session, Silbert talked about the controversy surrounding Genesis and its client Gemini. He said that DCG did borrow money from Genesis Capital, but "these loans were established on a fair basis and priced at the market interest rate at the time." DCG has a $1.1 billion promissory note with Genesis Capital due in 2032, and DCG currently owes Genesis $447.5 million and 4,550 bitcoins. As for DCG's role in the restructuring of Genesis Capital, Silbert said that because DCG owed Genesis Capital outstanding loans and promissory notes, DCG executives, including those on the Genesis board of directors, had no decision-making power related to the restructuring of Genesis Capital. According to previous news, Gemini co-founder Cameron Winklevoss stated in an open letter to the DCG board of directors that on behalf of Gemini's 340,000 Earn product users, he asked the DCG board of directors to remove Barry Silbert and appoint a new CEO.