genesis bankruptcy

Genesis Global Capital LLC has agreed to pay a $21 million civil fine to settle charges that it illegally sold securities through its crypto lending program without registering them, the U.S. Securities and Exchange Commission said on Tuesday.The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program. It was one of a spate of enforcement actions the SEC has taken against large firms in the crypto sector.Elevate Your Tech Prowess with High-Value…

In January this year, the lending unit of Genesis filed for US bankruptcy protection from creditors, toppled by a market rout along with the likes of exchange FTX and lender BlockFi (Illustration: Rahul Awasthi)Digital Currency Group (DCG) said on Tuesday some creditors of its bankrupt unit Genesis Capital have decided to walk away from a prior restructuring agreement for the cryptocurrency lender. DCG, a conglomerate in the digital asset space, had been looking to sell Genesis to repay some of the $3.4 billion, at a…