Genesis reaches settlement with New York State Attorney General

According to Bloomberg, bankrupt crypto lending platform Genesis has reached a settlement agreement with New York State Attorney General Letitia James, who previously accused Genesis of deceiving customers through the now-terminated Gemini Earn program. It is reported that the settlement will result in assets that may have been transferred to New York state agencies being returned to former Earn customers and other Genesis creditors. The transaction must be approved by a bankruptcy judge, and Genesis is operating independently in bankruptcy and will seek approval from Judge Sean Lane for its New York settlement and liquidation plan on February 14.