Federal prosecutors are looking at transfers between DCG and Genesis, while the Securities and Exchange Commission has also started a probe, Bloomberg reported.
Federal prosecutors are looking at transfers between Digital Currency Group and its Genesis lending unit, according to Bloomberg.U.S. authorities are investigating the flow of funds between Digital Currency Group and its Genesis lending subsidiary, according to aFederal prosecutors in the Eastern District of New York are looking at transfers between DCG and Genesis and the Securities and Exchange Commission has also started a probe, Bloomberg reported, citing people familiar with the situation.
The investigations are in their early stages and neither DCG nor any of its divisions have been accused of wrongdoing, Bloomberg said. It’s also unclear what specific activity is drawing scrutiny. “DCG has a strong culture of integrity and has always conducted its business lawfully," Bloomberg cited a company spokesperson as saying."We have no knowledge of or reason to believe that there is any Eastern District of New York investigation into DCG.”
The SEC and U.S. Attorney’s Office for the Eastern District of New York declined to comment to Bloomberg. Attempts by The Block to contact DCG via a
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