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 […]