ChainCatcher news, according to market reports, Digital Currency Group (DCG) has been charged by the U.S. Securities and Exchange Commission (SEC) and fined $38 million due to the lending fraud activities of its subsidiary Genesis.It is reported that Genesis is a cryptocurrency lending platform under DCG and was once one of the largest institutional lending service providers in the crypto industry. In November 2022, the collapse of the cryptocurrency exchange FTX exacerbated market turmoil, leading Genesis to suspend customer withdrawals during this period and file for bankruptcy protection in January 2023, with asset and liability valuations between $1 billion and $10 billion. According to the SEC investigation, Genesis and DCG are accused of concealing financial losses through false statements, involving over 230,000 investors and totaling more than $1 billion.