Bankrupt Crypto Lender Genesis Settles SEC Lawsuit Genesis Global Holdco LLC has reached a settlement with U.S. regulators to conclude a lawsuit alleging violations of securities laws via its discontinued Gemini Earn program. As part of the settlement, Genesis, a branch of Barry Silbert’s Digital Currency Group, will pay a $21 million fine to the U.S. Securities and Exchange Commission (SEC). However, this payment is contingent upon the company’s ability to fully reimburse its customers and other creditors under its Chapter 11 bankruptcy proceedings. The deal, pending approval from a bankruptcy judge, addresses the SEC’s claims that Genesis unlawfully solicited funds from investors through the Gemini Earn program, in collaboration with Gemini Trust Co. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Morgan Stanley Warns: Digital Currencies May Challenge US Dollar's Reign READ MORE JPMorgan Sees Gold Soaring to $2,500 READ MORE Federal Reserve Balances Rate Decisions Now That Inflation Has Slowed READ MORE BRICS: Scotiabank Says US Dollar To Fall in 2024 READ MORE Gold prices hit another record high after fresh U.S. data spurs Fed cut expectations READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment