News with the tag "DCG"

Digital Currency Group (DCG) is spinning off the self-mining unit of its Foundry subsidiary into a separate business called Fortitude Mining that will mine crypto across a range of digital assets, the company said Wednesday. What makes Fortitude Mining different is that it will not only mine bitcoin...

The U.S. Securities and Exchange Commission (SEC) is hitting venture capitalist firm Digital Currency Group (DCG) and a former executive of Genesis with a multimillion-dollar fine, claiming they misled investors. The regulatory agency says it’s slapping DCG and Soichiro “Michael” Moro – the former c...

The US Securities and Exchange Commission (SEC) has initiated formal cease-and-desist proceedings against venture capital firm Digital Currency Group (DCG) due to its alleged negligent conduct in relation to a lending program offered by its subsidiary, Genesis Global Capital (GGC). This action arise...

The US Securities and Exchange Commission (SEC) has ordered DCG to pay a $38 million civil fine and also comply with a cease-and-desist order to prevent future violations of securities laws. The punishment is tied to accusations that the crypto conglomerate and its former CEO, Soichiro “Michael” Mor...

“DCG and Moro painted a misleadingly rosy picture,” the acting director of the SEC’s enforcement division, Sanjay Wadhwa, wrote.

Digital Currency Group (DCG) and Soichoro “Michael” Moro, the former CEO of its now-defunct Genesis subsidiary, have agreed to pay a combined $38.5 million in civil penalties to settle securities fraud charges with the U.S. Securities and Exchange Commission (SEC). The crypto venture capital firm wi...

The U.S. Securities and Exchange Commission (SEC) has imposed a $38 million fine on Digital Currency Group (DCG), accusing the company of negligence in misleading investors about the financial stability of its subsidiary, Genesis Global Capital (GGC). SEC Alleges Misleading Practices by Digital Curr...

Former Genesis CEO Michael Moro has been sanctioned by the U.S. Securities and Exchange Commission as part of a 2023 lawsuit against its parent company, Digital Currency Group Digital Currency Group, a crypto-focused investment conglomerate, has reached a $38 million settlement agreement with the SE...

On Monday, Foundry, the world’s largest Bitcoin mining pool, announced a significant reduction in its workforce, laying off approximately 60% of its staff. This decision, confirmed by a report from Blockspace, affects both US and international staff, reducing the company’s headcount from over 250 to...

Foundry let go of 16% of US staff as part of a broader restructuring that includes spinning out its self-mining business.