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Case Status:    ONGOING    
On or around 01/23/2023 (Date of last review)

Filing Date: January 23, 2023

According to the Complaint, Digital Currency Group, Inc. serves as the parent company of a conglomerate of digital asset and blockchain technology focused subsidiaries, including Genesis Global Capital.

The Complaint alleges that Genesis Global Capital engaged in an unregistered securities offering in violation of Section 5 of the Securities Act by executing lending agreements without qualifying for an exemption from registration under the federal securities laws. The Complaint further alleges that Genesis Global committed securities fraud through a scheme to defraud prospective and current digital asset lenders by making false and misleading statements that intentionally misrepresented the financial condition of Genesis Global.

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