🚀🚀 Buckle up, BTC enthusiasts! New York Attorney General Letitia James has secured a whopping $2 billion settlement with the bankrupt cryptocurrency firm Genesis Global. 💥 This comes after allegations that Genesis defrauded investors, including tens of thousands of New Yorkers. 😱

🏆 This is the largest settlement against a crypto company in New York history, aiming to compensate investors who were allegedly misled by Genesis. The settlement includes the creation of a Victims’ Fund to aid misled investors and prohibits Genesis from conducting business in New York state. 🚫

💔 "When investors suffer losses because of fraud and manipulation, they deserve to be made whole," said AG James. The Victims Fund will benefit the 29,000 New Yorkers who invested over $1.1 billion through the Gemini Earn investment program. 🤝

💸 If the creditors are not fully compensated based on the current values of digital assets, the fund will receive up to $2 billion from Genesis’ remaining assets. This money will then be distributed to compensate the creditors for their actual losses until the fund is exhausted. 💰

🔍 This settlement continues AG James’ efforts to increase oversight and regulation in the cryptocurrency industry. In October 2023, James sued Gemini, GenesisTrading, and DCGco, accusing them of defrauding 230,000 investors of over $1 billion. 🕵️‍♀️

📉 This action followed Genesis’s Chapter 11 bankruptcy filing in 2023, which resulted in the freezing of customer withdrawals. Genesis recently received court approval last week to return $3 billion to its customers. 🏦

Stay tuned, crypto fans! 🚀🌕