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The Guardian - US
The Guardian - US
Technology
Guardian staff

New York reaches $2bn settlement with crypto lender Genesis over fraud claims

Genesis Letitia James Crypto New York
Black woman wearing blue shirt
The New York attorney general, Letitia James, at a press conference, on 31 July 2023. Photograph: Michael M Santiago/Getty Images

New York’s attorney general has secured a $2bn settlement with the bankrupt cryptocurrency lender Genesis Global over allegations it had defrauded thousands of investors.

Genesis, which filed for Chapter 11 bankruptcy in the US in January 2023, received court approval last week to return about $3bn in cash and cryptocurrency to its customers in a liquidation.

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