A Connecticut federal judge has revised an earlier decision in the Genesis Yield litigation, reviving investors' common-law fraud claims against Barry Silbert, Digital Currency Group and other defendants while allowing federal securities claims to continue. The case centers on allegations tied to a $1.1 billion promissory note used after the 2022 collapse of Three Arrows Capital, which investors say obscured Genesis Global Capital's true financial condition. Judge Stefan R. Underhill previously found that Genesis Yield qualifies as a security under the Howey and Reves tests, a conclusion that supports the federal securities claims and could have broader implications for crypto lending products that promise returns from platform-managed activity. The revised ruling changes part of the court's February decision, while some state consumer-protection claims were dismissed or stayed.