SEC charges Digital Currency Group for misleading investors
“DCG and Moro painted a misleadingly rosy picture,” the acting director of the SEC’s enforcement division, Sanjay Wadhwa, wrote. Go to Source
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SEC Imposes $38 Million Penalty on Digital Currency Group for Negligence
The U.S. Securities and Exchange Commission (SEC) has imposed a $38 million fine on Digital Currency Group (DCG), accusing the company of negligence in misleading investors about the financial stability of its subsidiary, Genesis Global Capital (GGC). SEC Alleges Misleading Practices by Digital Currency Group and Genesis Global Capital This case raises pressing questions about … Read more
Bitcoin miner Foundry lays off staff amid restructuring
Foundry let go of 16% of US staff as part of a broader restructuring that includes spinning out its self-mining business. Go to Source
New York Recovers $50 Million From Gemini — Bans the Exchange From Crypto Lending in the State
New York Attorney General Letitia James has secured a $50 million settlement from cryptocurrency exchange Gemini for Earn program investors. This settlement ensures that all defrauded investors will fully recover the assets they invested but were unable to withdraw when the program collapsed. Additionally, Gemini is now banned from operating any crypto lending program in … Read more
Bitcoin price tops $68K but a few concerning headwinds remain
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play. Go to Source
Grayscale CEO Michael Sonnenshein steps down
The CEO will be replaced by Goldman Sachs executive Peter Mintzberg effective Aug. 15. Go to Source
Swing State Voters Highlight Cryptocurrency as a Key Issue for 2024 Elections, Survey Finds
A recent survey conducted by The Harris Poll and commissioned by Digital Currency Group (DCG) reveals that cryptocurrency is emerging as a critical issue among voters in key swing states. Over 20% of respondents from states like Michigan, Ohio, and Pennsylvania demand more discourse on digital assets from political candidates ahead of the 2024 elections. … Read more
Report: DCG, Barry Silbert Seek Dismissal of NYAG Lawsuit, Citing ‘Baseless Innuendo’ and Integrity in Operations
Digital Currency Group (DCG) has submitted a request to the court to drop the legal action taken against it by New York Attorney General Letitia James. DCG argues that it’s “wrongfully” depicted and maintains that the lawsuit is nothing but a “thin web of baseless innuendo.” DCG Challenges NYAG’s Legal Action Last year, the New … Read more
Genesis strikes repayment deal with parent firm DCG to end $620M lawsuit
Digital Currency Group has over $320 million left to repay, according to Genesis, and the deal would see that remaining sum repaid by April next year. Go to Source
Bitcoin derivatives data suggests BTC price holds the current range
BTC investor sentiment turns increasingly bullish after this week’s quick rebound from a sharp price correction. Go to Source
