States including Alabama are looking into crypto firms and whether they violated securities laws.
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It's part of a"wide-ranging inquiry into the interconnectedness of crypto firms, Genesis’ connection to retail investors, and whether it or other industry participants might have violated securities laws." The publication cited Alabama as one of the states that is looking into whether Genesis, among other firms,"enticed residents to invest in crypto-related securities without making the proper registrations." Calls to the Alabama Securities Commission went unreturned, and the company did not respond to a request for comment.
The lending arm of Digital Currency Group last week temporarily suspended redemptions and new loan originations in the wake of FTX's collapse and its financial health has been called into question.his silence to address what he called the"noise" around the company, saying it would come out of the current environment"stronger" following media reports that Genesis may need to file for bankruptcy protection.
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