TechFlow reports, according to Reuters, that cryptocurrency lending firm Genesis Global stated it may be forced into a bankruptcy liquidation that does not involve its claims against DCG, due to a civil fraud lawsuit filed by New York Attorney General Letitia James against Genesis Global, its parent company Digital Currency Group (DCG), and its former partner Gemini Trust Co.
Previously, these three crypto firms were accused of defrauding investors of over $1 billion through their jointly operated investment program, Gemini Earn. Genesis plans to propose a "no deal" bankruptcy plan, distributing existing crypto assets to customers while establishing a process to preserve litigation rights against DCG and other parties.
Add to Favorites
Share to Social Media
