US authorities, Genesis investigation in relation to crypto asset industry = Barrons | Reuters

US state securities regulators are investigating Genesis Global Capital, a cryptocurrency lending business, as part of an investigation into relationships between cryptocurrency companies. The company has suspended the withdrawal of customer funds due to the bankruptcy of FTX, a major crypto asset exchange business. The photo is the FRX logo. Taken November 12, 2022 in Miami, USA. (2022 REUTERS/Marco Bello)

[25日 ロイター] – U.S. state securities regulators are investigating Genesis Global Capital, a cryptocurrency lending business, as part of an investigation into relationships between cryptocurrency companies. The US financial magazine Barron’s reported on the 25th as the story of the director of the Alabama Securities Commission.

Genesis does not provide services directly to individual investors, but you can earn interest just by depositing cryptocurrencies provided by Circle Internet Financial, which operates the USD coin, a large-scale stablecoin, and Gemini, a crypto asset exchange company. Engages in investment product support business.

The investigation aims to uncover ties between Genesis and private investors and whether the company or others in the industry have violated securities laws.

Following the bankruptcy of cryptocurrency exchange giant FTX, Genesis has stopped withdrawing customer funds.

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