News Explorer — New York Attorney General Touts $2 Billion Settlement With Bankrupt Crypto Lender Genesis

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May 21, 5:16 am

Coindesk

New York Attorney General Touts $2 Billion Settlement With Bankrupt Crypto Lender Genesis

The New York Attorney General's office has reached a $2 billion settlement with bankrupt crypto lender Genesis. The settlement comes after the NYAG sued Genesis, Gemini, and Digital Currency Group for allegedly defrauding investors of over $1 billion. As part of the settlement, Genesis will be blocked from doing business in New York, and a Victims' Fund will receive up to $2 billion to compensate creditors for their losses.

The New York Attorney General's office has reached a $2 billion settlement with bankrupt crypto lender Genesis. The settlement comes after the NYAG sued Genesis, Gemini, and Digital Currency Group for allegedly defrauding investors of over $1 billion. As part of the settlement, Genesis will be blocked from doing business in New York, and a Victims' Fund will receive up to $2 billion to compensate creditors for their losses.

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