EddieJayonCrypto

 20 May 24

tl;dr

The New York Attorney General's office secured a $2 billion settlement with Genesis, a crypto lender owned by Digital Currency Group, to repay users affected by its 2023 bankruptcy filing. The settlement, approved late Friday, will reimburse users for approximately 77% of the crypto funds they had p...

The New York Attorney General's office has secured a $2 billion settlement with Genesis, a crypto lender owned by Digital Currency Group (DCG), to repay users affected by its 2023 bankruptcy filing. The settlement will reimburse users for approximately 77% of the crypto funds they had provided to Genesis in exchange for yield. This development comes after Genesis also reached a $21 million settlement with the U.S. Securities and Exchange Commission (SEC) and gained approval to sell $1.6 billion worth of shares in Grayscale crypto products. The settlement marks a significant step towards providing justice to the victims who invested in Genesis, as highlighted by New York Attorney General Letitia James. Genesis filed for bankruptcy in January 2023 amidst a series of related crypto collapses, including the sudden shutdown of prominent crypto exchange FTX and crypto hedge fund Three Arrows Capital. Furthermore, Genesis and its parent company, DCG, were engaged in a public battle against former partner Gemini over owed funds. Gemini, in turn, has agreed to fully repay its customers and pay a fine to the New York Attorney General's office.

More about C3 Ai Inc

Company: C3 Ai Inc

Stock Ticker: C3

Sector: Technology

Industry: Services-Prepackaged Software

Market Cap: $3,220,873,000

Dividend Yield: None

EPS: -2.33

P/E Ratio: 2.536

ROE: -0.917

Volume: 296,402,000

Stock Price: $29.73

52-Week Range: $0 - $0.176

More about Emeren Group Ltd

Emeren Group Ltd, ReneSola Ltd, develops, builds, operates, and sells solar energy projects. The company is headquartered in Stamford, Connecticut.

Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES

Market Cap: 112.845M

Dividend Yield: None

Beta (5Y Monthly): -0.16

Price/Earnings Ratio (TTM): 1.852

Earnings Per Share (EPS) (TTM): -0.0891

Shares Outstanding: 104.671M

Profit Margin: 5.5%

Operating Margin: 3.42%

Return on Assets: 1.128%

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 9 Nov 24
 9 Nov 24
 8 Nov 24