Court approves Genesis settlement agreement with U.S. SEC

Odaily News The settlement agreement reached between Genesis and the US SEC was approved by the court at a hearing on Monday. The settlement, filed in court earlier this month, could result in Genesis paying up to $21 million in damages. However, this amount depends on the repayment of creditors. The SEC filed a lawsuit against Genesis last January, accusing it of pooling Gemini Earns assets with funds from other clients. It is reported that Gemini and Genesis collaborated to launch the Gemini Earn product. (Blockworks)