New York reaches $2bn settlement with crypto lender Genesis over fraud claims
by The Guardian
The Guardian— Letitia James announces victims fund for ‘defrauded investors’ in largest settlement the state has ever made with a crypto companyNew York’s attorney general has secured a $2bn settlement with the bankrupt cryptocurrency lender Genesis Global over allegations it had defrauded thousands of investors.Genesis, which filed for Chapter 11 bankruptcy in the US in January 2023, received court approval last week to return about $3bn in cash and cryptocurrency to its customers in a liquidation. Continue...
CNBC—New York AG announces $2 billion settlement with crypto lender Genesis. New York Attorney General Letitia James is settling with crypto lender Genesis for $2 billion to make defrauded investors whole again.
Bitcoinist.com—Genesis Reaches $2 Billion Settlement With New York AG's Office. The New York State Attorney General’s office has secured a $2 billion settlement with Genesis Global Capital, the bankrupt cryptocurrency lending platform. The settlement, approved by a federal bankruptcy judge, will establish a victims’ fund to compensate thousands of New Yorkers and other investors who lost money through Genesis’ platform. Genesis Ordered To Pay Up […]
Bitcoin News—NY Attorney General Secures $2 Billion Settlement With Bankrupt Crypto Lender Genesis – News Bytes Bitcoin News. New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will establish a victims’ fund to compensate over 29,000 New Yorkers who invested more than $1.1 billion through the Gemini Earn program. […]