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News Explorer — Genesis Settles Lawsuit With NYAG, Returns Assets to Customers and Creditors

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Feb 9, 9:44 am
Unchained Crypto

Genesis Settles Lawsuit With NYAG, Returns Assets to Customers and Creditors

Genesis Global Capital, a bankrupt crypto lender, has settled a lawsuit with the New York Attorney General, returning assets to customers and creditors. The settlement, which still needs approval from a bankruptcy judge, follows Genesis' $21 million settlement with the SEC. Genesis' parent company, Digital Currency Group, has opposed the firm's restructuring plan, claiming it violates legal standards for bankruptcy and overpays creditors.

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