News with the tag "Genesis Capital"

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...

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...

In a significant development for customers affected by Gemini’s paused crypto lending program, the crypto exchange has announced the return of $2.18 billion of digital assets to customers. Gemini, owned by tech billionaire twins Cameron and Tyler Winklevoss, temporarily halted withdrawals from its E...

According to local media reports, Binance, the world’s largest cryptocurrency exchange, is embroiled in a controversy involving the alleged mishandling of victims’ assets and the unauthorized sale of crypto lender Genesis’ claims. The allegations suggest that Binance used these assets to offset the ...

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 investor...

In a Friday 15 court filing, Gemini, the US-based crypto exchange platform, has accused Digital Currency Group (DCG) of engaging in “fraudulent activities” and attempting to evade responsibility for the harm caused to creditors. The filing directly responds to a statement made by DCG regarding a pro...

Creditors of the crypto financial firm Genesis call for $1.5 billion of forbearance payments and loans denominated in dollars, bitcoin and ether, according to a term sheet posted on Twitter by the Gemini co-founder.

In the midst of the financial dispute between crypto exchange Gemini and Digital Currency Group (DCG), Gemini has alleged that DCG failed to make a payment of around $630 million that was due last week. In response, Gemini has stated that it may extend “forbearance” to DCG in order to prevent a defa...