* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, September 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Monumental Sports & Entertainment Sets Corporate Direction at Nasdaq – PR Newswire

    Monumental Sports & Entertainment Reveals Bold New Corporate Vision at Nasdaq

    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Monumental Sports & Entertainment Sets Corporate Direction at Nasdaq – PR Newswire

    Monumental Sports & Entertainment Reveals Bold New Corporate Vision at Nasdaq

    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

    Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Crypto lender tied to FTX ordered to repay users $2 billion

May 20, 2024
in Business
Crypto lender tied to FTX ordered to repay users $2 billion
Share on FacebookShare on Twitter

A $2 billion settlement has been reached between New York Attorney General Letitia James and failed crypto lender Genesis to repay their investors. The settlement is said to be the largest against a cryptocurrency company in New York’s history. It mandates restitution for affected investors and bans Genesis trading from operating in the state.

Nvidia stock has all-time closing high in its crosshairs

“This historic settlement is a major step toward ensuring the victims who invested in Genesis have a semblance of justice,” said Attorney General James.

“Once again, we see the real-world consequences and detrimental losses that can happen because of a lack of oversight and regulation within the cryptocurrency industry,” she added.

“New York investors deserve the peace of mind that comes from a properly regulated marketplace, and that is something my office will always act to achieve.”

As per the latest settlement, a “Victims’ Fund” for Genesis’ creditors will be created, and the victims will receive distributions from the assets remaining in Genesis’ estate. In the event that Genesis’ remaining assets are not sufficient to repay those creditors, the Victims’ Fund will receive up to $2 billion.

This case relates to Sam Bankman-Fried’s FTX fraud in November 2022 and its consequences. Genesis, owned by Barry Silbert’s Digital Currency Group, was a lending partner of the crypto exchange Gemini’s Earn product. It had its derivatives unit lock up around $175 million in funds with FTX. After hearing the news of FTX’s collapse, Genesis paused withdrawals from the Earn program, which had approximately $900 million in assets from 340,000 users.

Crypto exchange and Genesis creditor Gemini didn’t like the way Genesis dealt with the financial troubles. Cameron Winklevoss wrote an open letter in January 2023 addressed to the CEO of Digital Currency Group, the parent organization of Genesis. In the letter, he accused the parent firm of acting in “bad faith” by delaying the process of returning the $900 million owed to clients of Gemini’s Earn program.

New York Attorney General Letitia James charged Gemini Trust, Genesis Capital, and Digital Currency Group with $1 billion in fraud in 2023.

Genesis, which is undergoing bankruptcy proceedings, agreed to give $1.1 billion back to crypto customers. Meanwhile, Genesis Global Capital, which is also bankrupt, agreed to pay $21 million to settle charges with the U.S. Securities and Exchange Commission (SEC) for violating securities laws that are related to its involvement with the now-defunct Gemini Earn program.

Recently, the failed crypto exchange FTX said in a statement that it expects almost 100% of its former customers to get back the money they lost when the cryptocurrency exchange collapsed. Earlier this year, FTX co-founder Sam-Bankman Fried was sentenced to jail for 25 years.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Quartz – https://qz.com/new-york-ag-has-reached-a-settlement-with-crypto-lender-1851488450

Tags: businessCryptoLender
Previous Post

Google’s AI search is telling car drivers to consider changing their blinker fluid

Next Post

Microsoft’s ‘year of the AI PC’ is becoming real

Poland vs Finland: UEFA World Cup Qualifiers stats & head-to-head – BBC

Poland vs Finland: Key Stats and Head-to-Head Showdown in UEFA World Cup Qualifiers

September 8, 2025
Putin Ally Issues Dire Warning About Russian Economy – Newsweek

Putin Ally Issues Stark Warning About Russia’s Economic Future

September 8, 2025
Monumental Sports & Entertainment Sets Corporate Direction at Nasdaq – PR Newswire

Monumental Sports & Entertainment Reveals Bold New Corporate Vision at Nasdaq

September 8, 2025
Trump’s new law will limit payments to hospitals that treat low-income patients – Stateline

Trump’s New Law Targets Major Cuts to Payments for Hospitals Serving Low-Income Patients

September 8, 2025
WATCH: Trump says ‘we’re not going to war’ with Chicago after threatening city on social media – PBS

Trump Reassures: ‘We’re Not Going to War’ with Chicago Despite Earlier Social Media Threats

September 8, 2025
Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

Six Acclaimed Artists Interpret Ecology and the Landscape for ‘Ground/work 2025’ – thisiscolossal.com

September 7, 2025
This Stanford computer science professor went to written exams 2 years ago because of AI. He says his students insisted on it – Fortune

Stanford Professor Returns to Written Exams After Students Demand It Amid AI Rise

September 7, 2025
Tiny thumbnails may be key for rodents’ global takeover – Science News

How Tiny Thumbnails Helped Rodents Conquer the Globe

September 7, 2025
$9 Million Stock & Warrant Deal: American Trust Leads Furniture Maker Nova LifeStyle’s Strategic Offering – Stock Titan

American Trust Fuels Nova LifeStyle’s Growth with $9 Million Stock and Warrant Investment

September 7, 2025
Industry partner provides Ferris State Plastics Engineering Technology students with state-of-the-art equipment to gain in-demand skills – Ferris State University

Industry Partner Equips Ferris State Plastics Engineering Students with Cutting-Edge Technology to Boost In-Demand Skills

September 7, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (812)
  • Economy (830)
  • Entertainment (21,708)
  • General (16,915)
  • Health (9,872)
  • Lifestyle (843)
  • News (22,149)
  • People (832)
  • Politics (837)
  • Science (16,040)
  • Sports (21,329)
  • Technology (15,810)
  • World (812)

Recent News

Poland vs Finland: UEFA World Cup Qualifiers stats & head-to-head – BBC

Poland vs Finland: Key Stats and Head-to-Head Showdown in UEFA World Cup Qualifiers

September 8, 2025
Putin Ally Issues Dire Warning About Russian Economy – Newsweek

Putin Ally Issues Stark Warning About Russia’s Economic Future

September 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version