Genesis strikes repayment deal with parent firm DCG to end $620M lawsuit
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Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from DCG.
In a Nov. 28
Genesis also sued crypto exchange Gemini on Nov. 22, seeking to recover nearly $670 million in transfers.
Meanwhile, Genesis and Gemini are facing a lawsuit from the Securities and Exchange Commission, which claimed they sold unregistered securities. New York also sued the duo and DCG, alleging the trio defrauded investors.
Genesis filed for bankruptcy in January after suspending withdrawals in November 2022.
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