Genesis Settles $21M SEC Lawsuit After Bankruptcy

Crypto lender Genesis Global has settled with the U.S. Securities and Exchange Commission (SEC) regarding its defunct Gemini Earn lending program. The agreement entails a $21 million fine, payable only if Genesis successfully repays customers in its bankruptcy proceedings. Agreement Details Under the settlement, Genesis Global will avoid the costs and uncertainties of defending itself in the SEC lawsuit. The agreement, filed in the U.S. Bankruptcy Court in Manhattan, allows Genesis to prioritize the repayment of customers and other creditors. The settlement does not require...

source: https://tokenpost.com/Genesis-Settles-21M-SEC-Lawsuit-After-Bankruptcy-11179

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