'Through this unregistered offering, Genesis and Gemini raised billions of dollars' worth of crypto assets from hundreds of thousands of investors,' said SEC. cryptocurrency
The U.S. Securities and Exchange Commission has charged crypto exchange Gemini and crypto lender Genesis Global Capital, a subsidiary of Digital Currency Group . “Through this unregistered offering, Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors,” the SEC alleged.The U.S.
The SEC described that in December 2020, Genesis entered into an agreement with Gemini to offer Gemini customers, including retail investors in the U.S., “an opportunity to loan their crypto assets to Genesis in exchange for Genesis’ promise to pay interest.”
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