Genesis Global Capital and other crypto firms are currently under investigation by U.S. securities regulators. As reported on Nov. 25
Joseph Borg, director of the Alabama Securities Commission, confirmed that his state and other states are participating in investigations into Genesis and its individual investors, including Genesis and other crypto firms, for potentially violating securities laws. or not followreportfrom Barron
Borg noted that The investigation focused on whether Genesis and other crypto firms properly persuaded investors to invest in unregistered crypto-related securities.
On November 16, Genesis announced a temporary suspension of withdrawals, citing “unprecedented market turmoil” following the collapse of FTX on Nov. 11.
However, on Nov. 22, Genesis stated that it had no plans to go bankrupt. and still negotiating with creditors
Genesis has hired a restructuring consultant. to explore all possible options. As of Nov. 23, investment bank Moelis & Company was hired by the company to explore options and no financial decision has yet been made, and the company may still be able to avoid bankruptcy.
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