Genesis Asia Pacific Pte Ltd, a division of the crypto lender owned by Digital Currency Group, lent $2.36 billion to collapsed hedge fund Three Arrows Capital (3AC).
Earlier reports have stated that Genesis faced a potential nine-figure loss from its exposure to 3AC.
Documents show the $2.36 billion outstanding loan balance owed to Genesis by 3AC.
The documents also show that the debt is undercollateralized, and that Genesis tried to recover some of its loans by commencing arbitration proceedings against 3AC through the American Arbitration Association (AAA) in New York last month.
3AC filed for Chapter 15 bankruptcy in New York on July 1.
The details of the 3AC loans were revealed in a 1,157-page legal document uploaded online on Monday by Teneo, the firm appointed last month to oversee 3AC’s liquidation.
Genesis CEO Michael Moro said in a series of tweets on July 6 that the company’s loans to 3AC had a weighted average margin requirement of over 80%, which 3AC had been unable to meet, prompting Genesis to sell its collateral.