A settlement for bankrupt cryptocurrency brokerage firm Genesis Global Capital to repay its creditors $2 billion in cash and digital assets is said to be the largest digital assets agreement in New York history, the office of state Attorney General said on Monday.
“This historic settlement is a major step toward ensuring the victims who invested in Genesis have a semblance of justice,” New York Attorney General Letitia James said in a statement. “Once again, we see the real-world consequences and detrimental losses that can happen because of a lack of oversight and regulation within the cryptocurrency industry. New York investors deserve the peace of mind that comes from a properly regulated marketplace, and that is something my office will always act to achieve.”
