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Federal Prosecutors in New York Probe Digital Currency Group and Subsidiary Genesis – Bitcoin News

Report: Federal Prosecutors in New York Probe Digital Currency Group and Subsidiary Genesis

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In an open letter from Gemini founder Cameron Winklevoss to Digital Currency Group CEO Barry Silbert following the allegations, a report citing “people familiar with the matter” states that federal prosecutors in New York are investigating transfers between Digital Currency Group and its subsidiary Genesis. Global capital.

Report claims Digital Currency Group, Genesis Global Capital are under scrutiny by New York federal prosecutors

According to a recent letter From Cameron Winklevoss, founder of crypto exchange Gemini, Digital Currency Group (DCG) has until January 8, 2023 to resolve liquidity issues between Gemini and Genesis Global Capital’s lending unit. It has been reported that Genesis owes $900 million to Gemini Earn customers, and both companies’ lending departments have halted withdrawals since mid-November. 2022.

Reports have revealed that Genesis was severely affected by the collapse of FTX and Alameda Research, and Gemini has recently been told that it could face a potential class action lawsuit over the matter. Bloomberg notes that federal investigators are involved and are reportedly looking into transactions between Digital Currency Group (DCG) and Genesis. “People with knowledge of the matter,” who requested anonymity, told the publication that prosecutors in the Eastern District of New York and the U.S. Securities and Exchange Commission (SEC) are investigating.

Bloomberg reached out to Silbert for comment, and a spokesperson for Digital Currency Group (DCG) responded. “DCG has a strong culture of integrity and has always conducted its business legally. “We have no knowledge or reason to believe that there is an investigation into DCG in the Eastern District of New York,” a company spokesperson said in a statement. The news outlet also reported that “the SEC and the U.S. Attorney’s Office for Eastern New York declined to comment.”

Bloomberg’s editorial follows several reports of alleged probes by US authorities into crypto companies that have either resulted in enforcement, never materialized or have yet to materialize. Over the past 12 months, reports citing “people familiar with the matter” have stated that US researchers are investigating crypto warehouse inspectors, US taxpayers, Capital of the Three Arrows, Twitter, Coinbase, Binanceand Remove the switchamong others.

Tags in this story

Allegations, alameda, Anonymous, Authorities, Barry Silbert, Bloomberg sources, Cameron, Cameron Winklevoss, capital, CEO, Class-Action, founder, Crypto, Currency, DCG, Digital, Digital Currency Group, Enforcement, Federal, ftx, Gemini , genesis, Global, Group, Investigation, Lawsuit, Letter, Liquidity, realized, New, investigation, Prosecutor, Research, review, Silbert, sources, subsidiary, transfers, Winklevoss, York

What do you think of the report that US authorities are investigating Digital Currency Group (DCG) and Genesis? Share your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the news director of Bitcoin.com News and a financial technology reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols appearing today.




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