The United States Securities and Exchange Commission (SEC) has brought legal action against Digital Currency Group (DCG) due to accusations of providing misleading information to investors. As reported by the financial market regulator, DCG allegedly neglected to reveal the full extent of their involvement with Three Arrows Capital (3AC), a bankrupt hedge fund, potentially putting investors at risk.
The Digital Currency Group Settlement With US SEC
As a researcher, I’ve discovered that, in the course of ongoing proceedings, Digital Currency Group (DCG) has put forth an Offer of Settlement, as stated in the legal filings. Consequently, this financial titan is expected to pay a sum of $38 million.
In June 2022, a significant loan recipient failed to meet their obligations following a margin call, which affected GGC’s operations according to the SEC. However, they claim that Digital Currency Group was careless and provided misleading information that understated the impact of this default and overstated their actions taken to assist GGC afterwards.
At the same time, this court case arises as the parent company of Grayscale Investments is taking steps to broaden its range of affiliated companies.
This is a breaking news, please check back for updates!!!
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2025-01-17 20:39