DCG third quarter consolidated revenue of $188 million
Digital currency group DCG released its third quarter financial performance, reporting a comprehensive revenue of $188 million, mainly due to its asset management department Grayscale. The update also involves the New York Attorney General's (NYAG) lawsuit against DCG's participation in Gemini Earn. The core of the NYAG case revolves around DCG's participation in Gemini's Earn program, which is managed by Gemini but its funds are managed by Genesis. The New York prosecutor accused DCG and Gemini of lying to investors and hiding information from creditors, and specifically pointed out that its investigation found that "Gemini's internal analysis of Genesis shows that the company's finances are at risk." The lawsuit also accuses former Genesis CEO Michael Moro and Silbert of "attempting to hide over $1.1 billion in losses borne by investors, deceiving investors and the public."
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