In a lawsuit filed late on Thursday, the U.S. Securities and Exchange Commission (SEC) claimed cryptocurrency exchange Gemini and cryptocurrency lender Genesis Global Capital offered unregistered securities.
The regulators are probing whether Genesis persuaded residents of their states to invest in crypto securities without acquiring any mandated registrations.
Michael Paleokrassas, managing director of trading, and Reed Werbitt, cash trading head, Joshua Lim, head of derivatives and Matt Ballensweig, co-head of sales and trading, have also left the firm in the last week.
