{"id":537355,"date":"2023-01-08T19:47:10","date_gmt":"2023-01-08T16:47:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/digital-currency-group-under-investigation-by-u-s-authorities-report\/"},"modified":"2023-01-08T19:47:10","modified_gmt":"2023-01-08T16:47:10","slug":"digital-currency-group-under-investigation-by-u-s-authorities-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/digital-currency-group-under-investigation-by-u-s-authorities-report\/","title":{"rendered":"# Digital Currency Group under investigation by U.S. authorities: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a326b07c8e41\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a326b07c8e41\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/digital-currency-group-under-investigation-by-u-s-authorities-report\/#%E2%80%9D_Digital_Currency_Group_under_investigation_by_US_authorities_Report_%E2%80%9C\" >&#8221; Digital Currency Group under investigation by U.S. authorities: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Digital_Currency_Group_under_investigation_by_US_authorities_Report_%E2%80%9C\"><\/span>&#8221; Digital Currency Group under investigation by U.S. authorities: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMzIxZDZjOTktNTk2OC00YTE1LWFhYjAtMjlhZTBlYTBiZTllLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ed77c39>Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice&#8217;s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-07\/crypto-empire-dcg-faces-us-investigation-over-internal-transfers\">according<\/a> to a Bloomberg report.\u00a0<\/p>\n<p>The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. <\/p>\n<p>As of yet, no indictment has been brought against DCG, nor have both U.S. authorities provided any information about the case. According to a spokesperson for DCG, the company was unaware of the investigation.\u00a0<\/p>\n<blockquote><p>\u201cDCG 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 investigation into DCG.\u201d<\/p><\/blockquote>\n<p>Genesis is one of the companies affected by the contagious wave following the collapse of FTX in November. According to the firm&#8217;s disclosure on Nov. 10, it has $175 million locked up in an FTX trading account. Genesis halted withdrawals on Nov. 16\u00a0due to liquidity issues, and\u00a0has engaged with investment bank Moelis &amp; Company to assist with restructuring.<\/p>\n<p><strong><em>Related:\u00a0Genesis tells clients it needs more time on financial woes after Gemini demands action<\/em><\/strong><\/p>\n<p>Genesis owes $900 million to the crypto exchange Gemini. They have operated together a product called Gemini Earn that allows crypto investors to earn 8% interest on their crypto loans. Gemini claims that DCG failed to repay Genesis, leading to the failure of payments to Gemini&#8217;s clients.<\/p>\n<p>Among other DCG subsidiaries are Grayscale Investments, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet CoinDesk, crypto exchange Luno and Bitcoin mining company Foundry. Cointelegraph reported that most of Grayscale\u2019s trust funds are trading at a discount, with Ethereum Classic Trust hitting the hardest discount at 77% on Jan. 4, followed by Litecoin Trust at 65% and Bitcoin Cash Trust at 57%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/digital-currency-group-under-investigation-by-u-s-authorities-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Digital Currency Group under investigation by U.S. authorities: Report &#8220; Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice&#8217;s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report.\u00a0 The authorities are digging into internal transfers between DCG&#8230;<\/p>\n","protected":false},"author":1,"featured_media":537356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/321d6c99-5968-4a15-aab0-29ae0ea0be9e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[90192,135234,74864,117,71391,73157],"class_list":["post-537355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-digital-currency-group","tag-ftx","tag-gemini","tag-business","tag-department-of-justice","tag-investigation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=537355"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/537355\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/537356"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=537355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=537355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=537355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}