The settlement also established a fund for victims comprising at least 29,000 New York residents who collectively gave more than $1.1 billion to Genesis through its Gemini Earn product.

Letitia James, the attorney general for the State of New York, announced that her office had secured a $2 billion settlement with cryptocurrency firm Genesis to compensate defrauded investors.

Digital Currency Group objected to subsidiary Genesis' proposed settlement with the New York attorney general's office. NYAG sued DCG and Genesis – as well as another company – on fraud charges.

After a lawsuit filed by the New York Attorney General against crypto lender Genesis in late 2023, the company reached a settlement of $2 billion with the AG on Monday.

New York Reaches $2B Settlement with Bankrupt Crypto Lender Genesis The settlement resolved a lawsuit James' office filed in state Supreme Court of Manhattan in October and establishes a victims ...

New York Attorney General Letitia James on Monday announced a landmark settlement on Thursday, revealing that her office has secured $2 billion from Genesis Trading for defrauding investors.

The settlement also bars Genesis from operating in New York. James filed suit against Genesis in October of 2023, accusing it of hiding more than $1.1 billion in losses from investors.

The New York Department of Financial Services plans to announce later today a settlement with Genesis Global Trading, a subsidiary of the major crypto conglomerate Digital Currency Group. After an ...

New York Attorney General Letitia James sued cryptocurrency firms Genesis Global, its parent company DCG, and former partner Gemini Trust Co on Oct. 19, alleging that they defrauded investors of ...

New York had previously reached a settlement with the Sacklers and Purdue for $5.4 billion, which was ultimately derailed by a U.S. Supreme Court decision in 2024.

Digital Currency Group (DCG) is objecting to the settlement between the New York attorney general and Genesis – the failed crypto lender that was among DCG's array of digital assets businesses.