State securities regulators are reportedly investigating Genesis Global Capital in a broad range probe into the “interconnectedness of crypto firms,” Barron’s reported on Friday. The report notes that the Alabama Securities Commission is looking into whether or not cryptocurrency firms have violated securities laws without filing the proper registrations.
Report Says Financial Regulators Are Investigating Genesis Global Capital and the Interconnected Activities of Other Crypto Firms
There’s been a lot of focus on Genesis Global Capital and its lending operation since Genesis announced on Nov. 16, 2022 it was temporarily suspending withdrawals and new loan originations. Days later, the New York Times (NYT) reported that Genesis Global Capital hired a restructuring adviser. The NYT report detailed that Genesis “hired the investment bank Moelis & Company to explore options including a potential bankruptcy, three people familiar with the situation said.”
However, reports pu
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