Genesis Global Agrees to $21M Civil Penalty Linked to Gemini Earn
Genesis Global, a bankrupt crypto lender, agrees to a $21 million penalty tied to Gemini Earn, settling SEC charges of securities law violations.
![image Weiliang](https://image.coinlive.com/24x24/cryptotwits-static/de866e82c3ef289998845649da3bf28e.png)
Genesis Global, a bankrupt crypto lender, agrees to a $21 million penalty tied to Gemini Earn, settling SEC charges of securities law violations.
Federal court denies Gemini and Genesis' motion to dismiss SEC case over Gemini Earn program, finding it offered securities under Howey and Reves tests.
Explore the latest developments in the complex legal and financial saga of Gemini Earn, Genesis, and DCG as of 2024, including restructuring plans, court rulings, and user reactions.
The beleaguered Gemini Earn program is now the linchpin in a new set of charges filed by the Securities and Exchange Commission against both Genesis and Gemini.
Barry Silbert, founder and chief of Digital Currency Group (DCG), has revealed that the company owes $2B to its subsidiaries and external creditors.
Three Gemini Earn users are seeking arbitration in a class action lawsuit against crypto broker Genesis and its parent company Digital Currency Group (DCG).
Genesis customers will likely be waiting for weeks before they can withdraw their funds.
The leading crypto, Bitcoin, is up by nearly 12% in two weeks, whereas Ethereum is up by almost 20%.
Genesis and its parent company, Digital Currency Group (DCG), are under pressure, and there are growing concerns about their potential default.
The statement was released in response to reports that Genesis Global and the Gemini exchange have stopped allowing withdrawals.