Genesis reaches settlement with New York attorney general, subject to bankruptcy judge's approval

Genesis has reached a settlement with New York State Attorney General Letitia James, who had accused Genesis of defrauding customers through the now-defunct Gemini Earn program. The settlement will return assets to former Earn customers and other Genesis creditors that might otherwise have been seized by New York state authorities. The deal is subject to approval by a bankruptcy judge. Genesis will seek approval of the New York settlement and liquidation plan from Judge Sean Lane on February 14. (Bloomberg) Previously, it was reported on February 2 that bankrupt Genesis had agreed to settle a lawsuit filed by the Securities and Exchange Commission (SEC) a year ago regarding a lending program. Genesis, a subsidiary of Digital Currency Group, agreed to pay the SEC $21 million to end the lawsuit, according to a filing in the U.S. Bankruptcy Court for the Southern District of New York.