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US Authorities Investigating Financial Transactions between DCG and Genesis

The crypto winter has exposed the frailty in the business models of many companies in Web3, and the implosion of the FTX Derivatives Exchange back in November further aggravated the financial inconsistencies in Genesis and DCG as a whole.

United States (US) authorities including the Securities and Exchange Commission (SEC) and the Department of Justice’s Eastern District of New York (EDNY) are reportedly investigating embattled Digital Currency Group (DCG) and its almost bankrupt subsidiary, Genesis. According to a Bloomberg report, the US authorities opened an investigation into the companies to examine the transfer of funds between both firms.

(By Benjamin Godfrey)

DCG Crypto
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