The settlement also established a fund for victims comprising at least 29,000 New York residents who collectively gave more than $1.1 billion to Genesis through its Gemini Earn product.

After a lawsuit filed by the New York Attorney General against crypto lender Genesis in late 2023, the company reached a settlement of $2 billion with the AG on Monday.

Letitia James, the attorney general for the State of New York, announced that her office had secured a $2 billion settlement with cryptocurrency firm Genesis to compensate defrauded investors.

"This historic settlement is a major step towards ensuring the victims who invested in Genesis have a semblance of justice," New York Attorney General Letitia James said in a statement.

The $2 billion settlement is the largest against a cryptocurrency company in New York's history ... of dollars’ worth of cryptocurrency. Attorney General James’ lawsuit cited internal Gemini ...

A settlement for bankrupt cryptocurrency brokerage firm Genesis Global Capital to repay its creditors $2 billion in cash and digital assets is said to be the largest digital assets agreement in ...

Digital Currency Group objected to subsidiary Genesis' proposed settlement with the New York attorney general's office. NYAG sued DCG and Genesis – as well as another company – on fraud charges.