Posted 2/2/2024, 11:01:21 PM
Genesis Settles with SEC for $21 Million Over Gemini Earn to Focus on Customer Repayment
- Genesis agrees to $21 million civil penalty to settle SEC lawsuit over Gemini Earn program
- Settlement allows Genesis to focus on repaying customers and creditors instead of defending against SEC
- Genesis did not admit wrongdoing in settlement agreement
- SEC sued Genesis in 2023 shortly after bankruptcy filing, alleging illegal securities sales
- Genesis seeks court approval on Feb. 14 for repayment plan to customers in cash or crypto