New York Attorney General and Genesis secure $2 billion settlement following judge’s sign off | Headlines | News | CoinMarketCap
05/20/2024 23:13
A New York bankruptcy judge has approved a settlement between the New York State Attorney General's office and crypto lender Genesis for $2 …
The Block Crypto News13 minutes ago
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Published on May 20, 2024 15:59 GMT+00:00edited on May 20, 2024 16:04 GMT+00:00
A New York bankruptcy judge has approved a settlement between the New York State Attorney General's office and crypto lender Genesis for $2 billion.
This comes months after Genesis Global Holdco filed a motion in the U.S. Bankruptcy Court in the Southern District of New York in February asking Judge Sean Lane to approve the settlement.
“When investors suffer losses because of fraud and manipulation, they deserve to be made whole,” said New York Attorney General Letitia General James on Monday in a statement. “This historic settlement is a major step toward ensuring the victims who invested in Genesis have a semblance of justice.
James said the settlement was the largest against a crypto firm in the state's history. The settlement includes a victim fund to help New …