TechFlow reported, according to Bloomberg, Genesis has reached a settlement with the SEC over litigation related to the Gemini Earn program, which was jointly operated by Genesis and Gemini.
According to a filing with the U.S. Bankruptcy Court for the Southern District of New York, Genesis, a subsidiary of Digital Currency Group, has agreed to pay $21 million to the SEC to resolve the lawsuit. The court document states that the $21 million will be paid after "all other allowed administrative expenses, secured claims, priority claims, and general unsecured claims have been paid in full."
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