New York Attorney General Letitia James said on Monday that she has reached a $2 billion settlement with cryptocurrency companies, a move that will assist investors, including nearly 30,000 New Yorkers, to recoup losses over alleged fraud by the businesses.
'If those creditors are not made whole based on today's digital asset values, the Victims' Fund will receive up to $2 billion from Genesis' remaining assets,' James' office said in the statement. 'The Victims' Fund will then make distributions to compensate Genesis' creditors for the full and fair amounts of their actual losses until the Victims' Fund is depleted.
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