Genesis Global Trading provides a trading platform for institutional investors to trade digital assets like cryptocurrencies. The platform is designed to handle large orders and ensure market liquidity by offering market-making services. They also offer various financial products, such as vanilla options and structured products, allowing investors to speculate or hedge against price movements. Genesis stands out by combining traditional trading practices with cryptocurrency, having launched the first over-the-counter bitcoin trading desk in 2013.

Digital Currency Group

Fintech

Financial Services

Genesis Global Trading

They are seeking damages after investing the majority of their net worth into Genesis Global Trading, a cryptocurrency firm that recently entered Chapter 11 bankruptcy.

First Fully A.I. Drafted Complaint in Federal Court: Analyzing Its Flaws and Implications for Legal Industry Innovation

New York has expanded what had been a $1 billion lawsuit against three cryptocurrency companies. Now, Attorney General Letitia James is alleging that the fraud scheme carried out by Digital Currency Group (DCG), its Genesis Global Capital offshoot, and Gemini Trust was three times the size once thought, at $3 billion. In an amended complaint filed Friday (Feb. 9), James says that more investors have come forward since her office sued the three companies last year, alleging that they misled investors about an investment program known as Gemini Earn

Ny Ag Alleges $3 Billion Fraud In Updated Crypto Scam Case

The New York Department of Financial Services (NYDFS), the state's finance sector regulator, announced a settlement with Genesis Global Trading that will see the company pay a hefty fine and forfeit its BitLicense for compliance failures that violated the state's digital asset and cybersecurity regulations.

Genesis to forfeit BitLicense, pay $8M fine in NYDFS settlement

The New York Department of Financial Services (DFS) is preparing to announce a settlement with Genesis Global, a subsidiary of the Digital Currency Group (DCG), according to a recent report by Fortune Magazine.

Genesis Global Settles Regulatory Issues, Agrees to $8M Fine

The New York State Department of Financial Services (DFS) has announced that Genesis Global Trading will pay an $8 million penalty to the state and surrender its BitLicense.These moves come after a DFS investigation found “significant” failings in the company’s anti-money laundering (AML) and cybersecurity programs, the regulator said in a Friday (Jan. 12) press release.The enforcement investigation followed DFS’ examinations of Genesis Global Trading, according to the release.Reached for comment by PYMNTS, a Genesis spokesperson said in an emailed statement that the settlement with DFS regards Genesis Global Trading, an entity that held a virtual currency license with the DFS.“The entity ceased operations in September 2023 and Genesis is in the process of voluntarily winding it down for business reasons,” the statement said. “Genesis had taken substantial measures to address these historical deficiencies and is pleased to resolve this matter. Genesis appreciates the DFS acknowledgement of management’s investment and efforts during and after the examination period.”Genesis Global Trading is a separate entity from Genesis Global Capital, and is the only Genesis entity that was licensed by DFS and was not involved in the Gemini Earn program, the DFS said in its press release.Gemini Earn was a crypto asset lending program offered by Genesis Global Capital and Gemini Trust Company. The Securities and Exchange Commission (SEC) charged the two companies with offering unregistered securities in January 2023, saying its complaint centers on that program.Genesis Global Trading had been licensed by the DFS to engage in virtual currency business activity in the state since 2018, according to the DFS press release.The DFS said in the release that the failings in Genesis Global Trading’s programs left the company vulnerable to illicit activity and cybersecurity threats.“DFS’s virtual currency and cybersecurity regulations are often cited as the gold standard, providing clear and stringent requirements to protect consumers and safeguard institutions from bad actors,” Adrienne A. Harris, superintendent of DFS, said in the release

Genesis Global Trading To Pay $8 Million Penalty, Surrender Bitlicense

New York Department of Financial Services announces $8M settlement with Genesis Global Trading.

New York Department of Financial Services Announces $8M Settlement with Genesis Global Trading

Binance may acquire Genesis Loan Book

Genesis has altered its bankruptcy plans, and that doesn’t sit well with the federal government. The crypto lender said in a filing last week that it wants to liquidate its assets instead of reorganizing. And that could delay the bankruptcy process, U.S Trustee William Harrington said in a separate court filing Wednesday (Nov. 1). “There could not be a starker example of a material change of a plan,” Harrington, a Justice Department official, wrote in the filing.

Genesis’ New Bankruptcy Plan Draws Ire Of The Feds

ChainCatcher 消息，据 The Block 报道，DeFi 协议 Elixir Protocol 以 1 亿

DeFi 协议 Elixir Protocol 完成 750 万美元 a 轮融资，Hack VC 领投 | 链捕手ChainCatcher on Binance Square

Genesis Global Trading has agreed to a settlement
with the New York Department of Financial Services (NYDFS).

Genesis Global Trading

Trading platform for digital assets

Genesis Global Trading

Trading platform for digital assets

About

Simplify's Take

What believers are saying

What critics are saying

What makes Genesis Global Trading unique

6 month growth

1 year growth

2 year growth

Benefits

Recently Posted Jobs

Genesis Global Trading is Hiring for 0 Jobs on Simplify!