Bankrupt cryptocurrency lender Genesis has agreed to pay $21 million as a civil penalty to settle charges lodged by the U.S. Securities and Exchange Commission (SEC) over the defunct Gemini Earn program of crypto exchange Gemini.
"Under the terms of the settlement, the SEC will not receive any portion of the penalty until after payment of all other allowed claims by the bankruptcy court, including claims by retail investors in the Gemini Earn program," the financial regulator said in a press release Tuesday.
