• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

SEC and Digital Currency Group: Settlement and $38 Million Penalty

user avatar

by Giorgi Kostiuk

a year ago


The SEC filed a lawsuit against Digital Currency Group for concealing information about their ties with the bankrupt fund Three Arrows Capital. DCG agreed to a settlement of $38 million.

Settlement with SEC

According to the lawsuit, DCG offered a settlement and agreed to pay $38 million. The SEC alleged that DCG misled investors about their funds and actions following Three Arrows' collapse. DCG did not admit to the allegations.

SEC's Allegations Against DCG

The SEC alleges that DCG and its subsidiary Genesis knowingly downplayed the scale of financial losses and misled investors. The SEC claims that DCG failed to take appropriate actions to prevent false statements about Genesis' financial health. Quote is absent.

Discussions Around SEC Actions

The SEC's actions have sparked discussions among cryptocurrency industry experts, many of whom see it as a reaction rather than a solution. This highlights the importance of transparency in the digital asset industry and regulators' efforts to protect investors.

The case against DCG underscores increasing concerns about transparency and accountability in the cryptocurrency industry. The SEC settlement demonstrates a commitment to addressing potential risks and protecting investor interests.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Tesla Stock Anticipated to Surge Following Grok AI Launch

chest

Tesla stock is expected to rise following the launch of the Grok AI Assistant, which introduces new features for users.

user avatarGustavo Mendoza

Tesla Launches Grok AI Assistant in Europe, Boosting Stock Potential

chest

Tesla has launched its Grok AI Assistant in the UK and European markets, enhancing its vehicle software capabilities.

user avatarRajesh Kumar

China Boosts Oil Imports from Russia as India Shifts Focus

chest

China has significantly increased its oil imports from Russia after India ceased procurement under a US trade deal.

user avatarMiguel Rodriguez

Strategy's Bitcoin Accumulation Continues Despite Market Fluctuations

chest

Strategy has been consistently adding to its Bitcoin holdings for 12 weeks, despite market fluctuations.

user avatarLuis Flores

Fraudulent Letters Target Crypto Hardware Wallet Owners

chest

Crypto hardware wallet users are receiving fake letters impersonating Trezor and Ledger, designed to steal digital assets.

user avatarArif Mukhtar

Claver Defends His XRP Predictions Amid Criticism

chest

Jake Claver defends his strong beliefs about XRP's future despite criticism regarding his previous predictions.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.