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.

New York Attorney General Letitia James on Monday announced a landmark settlement on Thursday, revealing that her office has secured $2 billion from Genesis Trading for defrauding investors.

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

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.

The New York Department of Financial Services plans to announce later today a settlement with Genesis Global Trading, a subsidiary of the major crypto conglomerate Digital Currency Group. After an ...