Bankrupt Genesis Global settles NY Attorney General's lawsuit

FILE PHOTO: New York Attorney General Letitia James looks on as former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 24, 2023. REUTERS/Mike Segar/Pool

(Reuters) - Crypto lender Genesis Global has settled a lawsuit that the New York Attorney General brought against it last year, eliminating a major legal burden as it wades through its bankruptcy proceedings.

Attorney General Letitia James had sued the company, its parent Digital Currency Group (DCG) and cryptocurrency firm Gemini Trust Co in October for allegedly "defrauding" investors of more than $1 billion.