New York Attorney General Letitia James has expanded the state’s lawsuit against Digital Currency Group (DCG) and tripled the estimated size of alleged fraud to more than $3 billion. Digital Currency Group Accused Of Defrauding Investors The amended complaint, filed by Attorney General James, accuses Digital Currency Group, DCG’s CEO Barry Silbert, and the bankrupt […]
In a recent development, Digital Currency Group (DCG), the parent company of bankrupt crypto lender Genesis Capital, has objected to Genesis’ bankruptcy plan, arguing that it violates the Bankruptcy Code. DCG’s objection centers around Genesis’ proposal to pay customers more than they are legally entitled to, a move that DCG believes “unfairly” favors a select group […]
A recent Fortune Magazine report revealed that the New York Department of Financial Services (DFS) is set to announce a settlement with Genesis Global, a subsidiary of the crypto conglomerate Digital Currency Group (DCG). In a statement shared with Fortune, Superintendent Adrienne Harris expressed concerns about Genesis’ failure to maintain a functional compliance program, stating […]
Gemini Files Lawsuit Against Genesis Over Disputed $1.6 Billion Bitcoin Trust Shares | Bitcoinist.com
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In a recent development, crypto exchange Gemini has filed a lawsuit against the crypto platform Genesis Global about the ownership of shares in the Grayscale Bitcoin Trust (GBTC). Per the lawsuit, the exchange is seeking a determination from a federal judge to establish that Genesis has no right to over 60 million GBTC shares pledged […]