cryptonews: Digital Currency Group is being scrutinized by federal prosecutors in the U.S. Anonymous sources told the news outlet that investigators are examining transfers between DCG and Genesis, its embattled crypto lending arm.
It suffered losses of $1.2 billion when crypto hedge fund Three Arrows Capital went bust, and Genesis now owes hundreds of millions of dollars to other businesses in the space.
Genesis had a key role in the Earn program offered by the crypto exchange Gemini, which offered interest rates of up to 8%. But since withdrawals were halted in November, 340,000 customers have been frozen out of an estimated $900 million. A war of words has now broken out, with Gemini co-founder Cameron Winklevoss accusing Barry Silbert of engaging inRelated Articles
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