Digital Currency Group agrees to settle and pay $38.5M in civil penalties to the US SEC over charges that it misled investors via crypto lender Genesis Global
a $38.5m fine from SEC US Securities and Exchange Commission : SEC Charges Digital Currency Group and Soichiro “Michael” Moro, Former CEO of Genesis Global Capital, for Misleading Investors about Genesis's Financial Condition Hassan Shittu / Cryptonews : SEC Charges DCG and Genesis, Fines $38M for Misleading Investors MacKenzie Sigalos / CNBC : Crypto firm Digital Currency Group to pay SEC $38.5 million for misleading investors Hannah Collymore / Cryptopolitan : SEC charges DCG and Genesis Global Capital for concealing info about 3AC in 2022 X: Patrick McKenzie / @patio11 : Seems like the SEC finally got around to fining DCG for lying through their teeth repeatedly in 2022. https://www.sec.gov/... I think this finally lets me cash in a very old hash. Most is very old news, but there's one discussion topic that is perhaps not public yet. Jeff Roberts / @jeffjohnroberts : SEC settles with DCG and former Genesis CEO for $38M, Barry Silbert not named This stems from 3AC failure in 2022 that led to freeze of Winklevoss-backed Earn program (I'd include link to news — but GG's SEC is struggling to run its website) [image] Patrick McKenzie / @patio11 : By my read of the SEC's enforcement action and the settlement, the SEC's view is that DCG was already defrauding the public by July. The subsequent blowup in November merely made it unable to obscure that any further. Jeff Roberts / @jeffjohnroberts : SEC settles with DCG and former Genesis CEO for $38M, Barry Silbert not named This stems from 3AC failure in 2022 that led Grayscale to freeze Winklevoss-backed Earn program (I'd include link to news — but GG's SEC is struggling to run its website) [image]