{"id":72254,"date":"2023-01-09T10:46:09","date_gmt":"2023-01-09T08:46:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=72254"},"modified":"2025-09-08T14:03:18","modified_gmt":"2025-09-08T11:03:18","slug":"journalists-report-that-us-authorities-are-investigating-dcgs-activities","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/journalists-report-that-us-authorities-are-investigating-dcgs-activities\/","title":{"rendered":"Journalists report that US authorities are investigating DCG&#8217;s activities"},"content":{"rendered":"<p><span data-descr=\"United States Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and the U.S. Department of Justice are beginning to examine the nature of Digital Currency Group&#8217;s interactions with its subsidiary OTC platform Genesis Global Capital. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-07\/crypto-empire-dcg-faces-us-investigation-over-internal-transfers\"> Bloomberg<\/a> reports this, citing informed sources.<\/p>\n<p>Investigators have interviewed employees and requested documents from the firms. The SEC is conducting a similar investigation at an early stage.<\/p>\n<p>Officials declined to comment. As of writing, no charges have been filed.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00ab<span data-descr=\"Digital Currency Group\" class=\"old_tooltip\">DCG<\/span> [\u2026] has always conducted its business lawfully. We have no information or grounds to believe that [\u2026] there is any investigation into the company\u00bb<\/em>, \u2014 a representative said.<\/p>\n<\/blockquote>\n<p>Genesis said it is maintaining ongoing dialogue with regulators.<\/p>\n<p>Earlier in the community appeared<a href=\"https:\/\/u1f987.com\/en\/news\/rumours-of-dcg-troubles-surface-as-ftx-collapse-unfolds\"> concerns<\/a> about the resilience of the group of companies in the wake of <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the collapse of FTX<\/a>.<\/p>\n<p>On November 16, the crypto-lending platform <a href=\"https:\/\/u1f987.com\/en\/news\/genesis-global-capital-suspends-crypto-lending-operations\">froze withdrawals<\/a> and disbursement of new loans, and later unsuccessfully attempted to <a href=\"https:\/\/u1f987.com\/en\/news\/genesis-global-capital-sought-emergency-financing-of-1-billion-reports-say\">raise emergency financing<\/a> of $1 billion.<\/p>\n<p>In December, reports circulated about <a href=\"https:\/\/u1f987.com\/en\/news\/genesis-faces-1-8-billion-in-creditor-claims-reports-say\"> increased to $1.8 billion<\/a> demands against the platform.<\/p>\n<p>Half of the aforementioned amount <a href=\"https:\/\/u1f987.com\/en\/news\/genesis-faces-1-8-billion-in-creditor-claims-reports-say\"> went to<\/a> Gemini clients, which chose Genesis as partner for the Earn lending program. Gemini co-founder Cameron Winklevoss, in an open letter<a href=\"https:\/\/u1f987.com\/en\/news\/cameron-winklevoss-urges-barry-silbert-to-settle-the-900-million-debt-by-january-8\"> urged<\/a> DCG CEO Barry Silbert to pay the full amount by January 8.<\/p>\n<p>As reported by the press, Genesis Global Capital is considering <a href=\"https:\/\/u1f987.com\/en\/news\/digital-currency-group-closes-hq-digital-unit\">filing for bankruptcy<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEC and the U.S. Department of Justice have begun examining the nature of Digital Currency Group&#8217;s interactions with its subsidiary OTC platform Genesis Global Capital. Bloomberg reports this, citing informed sources.<\/p>\n","protected":false},"author":1,"featured_media":72255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[184,1380],"class_list":["post-72254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dcg","tag-genesis-global-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=72254"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72254\/revisions"}],"predecessor-version":[{"id":72256,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/72254\/revisions\/72256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/72255"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=72254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=72254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=72254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}