The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision comes in response to Gemini’s failure to conduct due diligence, the DFS said in a...
Crypto exchange Gemini and venture capital firm Digital Currency Group (DCG) are facing a lawsuit filed by New York Attorney General Letitia James, alleging the companies defrauded customers of $1.1 billion. The lawsuit, filed Thursday (Oct. 19), accuses Gemini and DCG’s Genesis Global Capital unit of not disclosing the risks...
It’s hard to tell who is faring worse, Barry Silbert, or his stable of companies. The one-time paper billionaire’s wealth has cratered to the mere hundreds of millions, and the crypto empire it staked to, that he spent nearly a decade building, is looking shakier...
Cryptocurrency lender Genesis Global Capital reportedly could file for bankruptcy this week. Bloomberg reported Wednesday (Jan. 18) that the unit of Digital Currency Group (DCG) has been negotiating with creditor groups amidst a liquidity crunch. The plans could change, as the talks are continuing, the...
May 20, 2024
Cryptocurrency firm Genesis has been banned from operating in New York and will pay a settlement worth $2 billion, the Office of the New York State Attorney General (NYAG) said in a Monday (May 20) press release. This settlement includes the bankrupt firms Genesis Global Capital, Genesis Asia Pacific and Genesis Global Holdco, according to the release. “This historic settlement is a major step toward ensuring […]
February 28, 2024
The New York State Department of Financial Services (DFS) said Wednesday (Feb. 28) that Gemini Trust Company has agreed to return at least $1.1 billion to customers of its Gemini Earn Program. The decision...
October 19, 2023
Crypto exchange Gemini and venture capital firm Digital Currency Group (DCG) are facing a lawsuit filed by New York Attorney General Letitia James, alleging the companies defrauded customers of $1.1 billion. The lawsuit, filed Thursday...
January 18, 2023
Cryptocurrency lender Genesis Global Capital reportedly could file for bankruptcy this week. Bloomberg reported Wednesday (Jan. 18) that the unit of Digital Currency Group (DCG) has been negotiating with creditor...
