DCG received a $575 million loan from its subsidiary Genesis.
DCG and its CEO are not accused of any wrongdoing.
Regulating looking for a lead searching into internal documents of the organization.
The United States Prosecutors and the Securities and Exchange Commission began investigating Genesis and Digital Currency Group’s (DCG) internal transfers which are currently not publicized, as per Bloomberg.
DCG has seven subsidiaries, including Genesis. Genesis is the sister company of DCG. Prosecutors in the Eastern District of New York and the SEC are investigating separately. The Prosecutors asked DCG to provide documents and interviews.
The investigation and probing are at an early stage. Neither the organization nor its CEO, Barry Gilbert, have been accused of any wrongdoing till now. “DCG has a strong culture of integrity and has always conducted its business lawfully. We have no knowledge of or reason to believe that there is any Eastern District of New York investigatio
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