The U.S. Department of Justice's Eastern District of New York office and the Securities and Exchange Commission are reportedly in the early stages of probing transfers between Digital Currency Group and Genesis. nikhileshde reports.
Another DCG subsidiary, Grayscale, is also facing issues with its key bitcoin trust product. A discount in the price of a share of the trust relative to the price of bitcoin, indicating a lack of trust in the product or in investors' ability to cash out of it.
Spokespeople for Genesis and DCG did not immediately return requests for comment. A DCG spokesperson told Bloomberg on Friday that the company was unaware of any EDNY investigation, while a Genesis spokesperson told the news outlet that it"maintains regular dialogue" with regulators but couldn't comment on any specific issues.
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