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BTCC / BTCC Square / Global Cryptocurrency /
SEC Charges DCG and Genesis, Fines $38M for Misleading Investors

SEC Charges DCG and Genesis, Fines $38M for Misleading Investors

Author:
Global Cryptocurrency
Published:
2025-01-18 09:17:15
16
2
The U.S. Securities and Exchange Commission (SEC) announced enforcement actions against Digital Currency Group (DCG) and its subsidiary Genesis on Friday, citing violations of securities laws. The SEC accused DCG and Genesis of defrauding investors through misrepresentation, resulting in penalties and legal action. DCG agreed to settle the charges by paying a $38 million fine. The charges extend to DCG and its former CEO, Soichiro 'Michael' Moro, who allegedly misled investors about the financial health of Genesis following the collapse of one of its largest borrowers, Three Arrows Capital (3AC), in mid-2022.

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