SEC Settlement: DCG Genesis CEO Pays

DCG and Former Genesis CEO Settle SEC Fraud Charges

• Digital Currency Group (DCG) and Soichoro “Michael” Moro agreed to pay $38.5 million in civil penalties.
• DCG will pay $30 million, while Moro is liable for a $500,000 penalty.
• The charges relate to misleading claims following the collapse of Three Arrows Capital in 2022.
• Both DCG and Moro agreed to a cease-and-desist order without admitting wrongdoing.
• The New York Attorney General’s civil case against DCG is ongoing, seeking $3 billion in penalties.

Digital Currency Group and former Genesis CEO Michael Moro have settled securities fraud charges with the SEC by agreeing to pay a combined $38.5 million in penalties, with DCG bearing the majority of the financial burden. The settlement follows allegations related to misleading claims after Three Arrows Capital’s collapse.