• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Digital Currency Group, former Genesis CEO to pay $38.5 million over SEC charges

by January 17, 2025
written by January 17, 2025

(Reuters) – The U.S. Securities and Exchange Commission on Friday said Digital Currency Group Inc. and the CEO of its now-defunct subsidiary Genesis Global Capital LLC have agreed to pay a combined $38.5 million in civil penalties to settle charges they misled investors about Genesis’s financial condition.

Regulators found that DCG and Genesis chief Soichoro Moro downplayed the impact of a mid-2022 default by one of its largest borrowers, Three Arrow Capital, the SEC said in a statement.

Neither the firm nor Moro admitted or denied the SEC’s findings. Lawyers for both did not respond immediately to requests for comment.

The SEC said Moro made false or misleading statements on Twitter, misleadingly characterizing Genesis’s balance sheet as strong. Other executives retweeted some of those statements.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Factbox-Trump’s inauguration marks new era for cryptocurrency
next post
Carmakers at India auto show unveil charging network plans, new EVs

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • A flagging U.S. industry looks for new life in a Philadelphia shipyard

      July 18, 2025
    • Coca-Cola dodges after Trump says soda will switch back to cane sugar

      July 18, 2025
    • Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps

      July 17, 2025
    • Inflation picks up again in June as tariffs slowly work their way through U.S. economy

      July 16, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (561)
    • Stock (6,426)

    Latest News

    • A flagging U.S. industry looks for new life in a Philadelphia shipyard
    • Coca-Cola dodges after Trump says soda will switch back to cane sugar

    Popular News

    • Amazon exits Quebec operations, to cut about 1,700 jobs
    • Yellen defends COVID spending, says it saved millions from losing jobs

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy