New York reaches $2bn settlement with crypto lender Genesis over fraud claims

New York reaches $2bn settlement with crypto lender Genesis over fraud claims

Letitia James announces victims fund for ‘defrauded investors’ in largest settlement the state has ever made with a crypto company

New York’s attorney general has secured a $2bn settlement with the bankrupt cryptocurrency lender Genesis Global over allegations it had defrauded thousands of investors.

Genesis, which filed for Chapter 11 bankruptcy in the US in January 2023, received court approval last week to return about $3bn in cash and cryptocurrency to its customers in a liquidation.

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​Letitia James announces victims fund for ‘defrauded investors’ in largest settlement the state has ever made with a crypto companyNew York’s attorney general has secured a $2bn settlement with the bankrupt cryptocurrency lender Genesis Global over allegations it had defrauded thousands of investors.Genesis, which filed for Chapter 11 bankruptcy in the US in January 2023, received court approval last week to return about $3bn in cash and cryptocurrency to its customers in a liquidation. Continue reading… 


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