SEC Cracks Down On Digital Currency Group: $38 Million Civil Penalty For ‘Misleading Investors’
2025-06-23 14:36:11
Description
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 arises from findings that Digital Currency Group “misled investors” about Genesis Global Capital’s financial health during a “critical period” in mid-2022. Genesis Global Capital’s Financial Woes According...
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