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 The ‘supercore’ inflation measure shows Fed may have a real problem on its hands READ MORE IMF Cautions Against Premature Rate Cuts by Central Banks READ MORE US Budget Gap Widens 16% in First Four Months of Fiscal Year READ MORE Persistent Inflation Challenges Eurozone, Core Prices Higher Than Anticipated READ MORE Add a Comment Cancel replyYour email address will not be published.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