The settlement involves a $2 billion fine which wil go towards establishing a victims' fund., the NYAG sued Genesis, Gemini, and Digital Currency Group for allegedly defrauding more than $1 billion from over 230,000 investors, including 29,000 New Yorkers.
“This historic settlement is a major step toward ensuring the victims who invested in Genesis have a semblance of justice," Attorney General Letitia James said in a statement."Once again, we see the real-world consequences and detrimental losses that can happen because of a lack of oversight and regulation within the cryptocurrency industry.”
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Source: NBCNews - 🏆 10. / 86 Read more »