Digital Currency Group (DCG), a prominent player in the cryptocurrency industry, on Friday agreed to settle with the U.S. Securities and Exchange Commission (SEC) for misleading investors. What Happened: DCG, founded by Barry Silbert, and its former executive, Soichiro “Michael” Moro, will collectively pay $38.5 million to the SEC. This settlement is to resolve charges of providing false information about the financial state of Genesis Global Ca…

Benzinga

New York

United States

Crypto Firm DCG Settle With SEC For $38.5M Over Misleading Investors - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

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Digital Currency Group (DCG) and Soichoro “Michael” Moro, the former CEO of its now-defunct Genesis subsidiary, have agreed to pay a combined $38.5 million in civil penalties to settle securities fraud charges with the U.S. Securities and Exchange Commission (SEC).The crypto venture capital firm will bear the brunt of the financial penalty, paying $30 million in fines, while Moro will personally be liable for a $500,000 penalty. In addition to t…

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Coin Desk

Manila

Metro Manila

Philippines

DCG, Former Genesis CEO to Pay SEC $38.5M to Settle Securities Fraud Charges

The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have agreed to pay a combined $60 million in civil penalties to settle charges over compliance failures.

BizToc

Wells Fargo firms, Merrill Lynch to pay $60 mln to settle SEC charges

By Chris Prentice (Reuters) -Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S. Securities and Exchange Commission charges over compliance failures, the regulator said on Friday. According to the SEC, Wells Fargo and Merrill Lynch firms failed to adopt and implement policies and procedures to consider the best interests of their clients in connection with their cash sweep …

Blue Water Healthy Living

Port Huron

St. Clair County

Michigan

Wells Fargo firms, Merrill Lynch to pay $60 million to settle SEC charges - Blue Water Healthy Living

The SEC has filed a lawsuit against Digital Currency Group for misleading investors about its exposure to the collapsed hedge fund Three Arrows Capital.

CryptoPanic

Digital Currency Group Fined $38 Million Over Misleading Statements About Genesis' Finances

The US Securities and Exchange Commission (SEC) has initiated formal cease-and-desist proceedings against venture capital firm Digital Currency Group …

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SEC Cracks Down On Digital Currency Group: $38 Million Civil Penalty For ‘Misleading Investors’

The US Securities and Exchange Commission (SEC) has ordered DCG to pay a $38 million civil fine and also comply with a cease-and-desist order to prevent future violations of securities laws. The punishment is tied to accusations that the crypto conglomerate and its former CEO, Soichiro “Michael” Moro, misled investors about the financial health of its operations.  Even though the SEC will soon come under new leadership, the Gary Gensler administ…

coinstats.app

CoinStats - SEC charges DCG and Genesis Global Capital fo...

The US Securities and Exchange Commission (SEC) has initiated formal cease-and-desist proceedings against venture capital firm Digital Currency Group (DCG) due to its alleged negligent conduct in relation to a lending program offered by its subsidiary, Genesis Global Capital (GGC).  This action arises from findings that Digital Currency Group “misled investors” about Genesis Global Capital’s financial health during a “critical period” in mid-202…

Bitcoinist

Wells Fargo and Merrill Lynch paid $60 million to settle the claims without admitting to or denying the regulator's allegations.

American Banker

Arizent

Wells Fargo, Merrill cash-sweep accounts shortchanged clients, SEC alleges

The U.S. Securities and Exchange Commission (SEC) has filed charges against Digital Currency Group (DCG) for allegedly misleading investors. The SEC accuses DCG of making false and misleading statements to investors about its cryptocurrency investments. The charges stem from DCG’s failure to disclose key information about its investments, including conflicts of interest and the risks involved. The SEC alleges that DCG violated federal securities…

Crypto Firm DCG Settle With SEC For $38.5M Over Misleading Investors - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)

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