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 Metals Close Mixed on Final Trading Day — Gold Up 14% for the Year READ MORE Housing Costs Defy Inflation Trends, Challenging Federal Reserve's Targets READ MORE U.S. GDP Growth Stumbles to 1.6% in Q1, Missing Economic Forecasts READ MORE Republic Bank Shuts Down; FDIC Coordinates $10 Billion Asset Transfer to Fulton Bank READ MORE Fed's Focus Shifts: Slowing Quantitative Tightening is Key READ MORE Add a Comment Cancel replyYour email address will not be published.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