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%