State securities regulators are looking into Genesis Global Capital as part of a broader investigation into the interconnectedness of crypto firms, according to Barron’s, citing a comment from the Alabama Securities Commission Director. While Genesis does not directly serve individual investors, it does support products offered by cryptocurrency companies such as Circle Internet Financial, the primary operator of one of the largest stablecoins, USD Coin, and Gemini. Customers who deposit certain cryptocurrencies on the platforms receive a yield from these products. According to the report, the investigation will look into Genesis’s relationship with such retail investors, as well as whether it or other industry participants may have violated securities laws.
