TechFlow reports, according to CNBC, New York Attorney General Letitia James announced a $2 billion settlement agreement with cryptocurrency lending platform Genesis to repay defrauded investors.
Genesis, once a core business of Digital Currency Group (DCG), was one of the many casualties in the industry contagion triggered by FTX's collapse. The company filed for Chapter 11 bankruptcy protection in January 2023. In October, Letitia James sued DCG, its subsidiary Genesis, and Gemini Trust, alleging they misled investors regarding the Gemini Earn program, resulting in over $1 billion in losses.
Add to Favorites
Share to Social Media
