New York Amplifies Fraud Case Against Digital Currency Group to $3 Billion

By: Isha Das

The lawsuit against the Digital Currency Group (DCG) by New York has escalated, with the state seeking $3 billion, tripling the amount originally demanded. This increase in amount stems from alleged investor losses tied to the Gemini Earn product and Genesis direct investments, as per recent court filing.

New York Attorney General Letitia James is leading this charge, accusing DCG of fraudulent activities. The original lawsuit demanded $1 billion. However, the rising allegation and potential investor losses have intensified, bringing up the lawsuit's claim to $3 billion.