By Aaron Nicodemus2024-03-19T17:53:00
Crypto firm Genesis Global Capital agreed to pay a $21 million civil penalty to the Securities and Exchange Commission (SEC) to settle charges that the Gemini Earn investment program was an unregistered security offering.
The settlement, filed Monday in U.S. District Court for the Southern District of New York, said the SEC penalty will be treated as an unsecured claim in Genesis’s bankruptcy case. The agency said in a press release it will not receive any portion of the penalty until the company settles its bankruptcy claims.
The SEC sued Genesis in January 2023, alleging the company and Gemini raised “billions of dollars’ worth of crypto assets from hundreds of thousands of investors” with Gemini Earn. The program allegedly constituted the offering and sale of a security but was not registered with the SEC, a violation of federal securities law.
2024-02-29T19:18:00Z By Jeff Dale
The New York State Department of Financial Services fined cryptocurrency exchange Gemini Trust Company $37 million over alleged compliance failures related to lapses in safety and soundness.
2024-01-16T18:24:00Z By Kyle Brasseur
Virtual currency brokerage firm Genesis Global Trading agreed to pay an $8 million penalty levied by the New York State Department of Financial Services for alleged compliance failures that left it vulnerable to illicit activity and cybersecurity threats.
2023-01-13T17:21:00Z By Aaron Nicodemus
The Securities and Exchange Commission accused two cryptocurrency firms, Genesis Global Capital and Gemini Trust Company, with selling a crypto lending product to investors as an unregistered security.
2025-10-17T21:09:00Z By Oscar Gonzalez
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
2025-10-16T20:38:00Z By Neil Hodge
Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
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