State securities regulators are investigating Genesis Global Capital as part of a wide-ranging inquiry into the interconnectedness of crypto firms, Genesis's connection to retail investors, and whether it or other industry participants might have violated securities laws.
Alabama Securities Commission Director Joseph Borg said his agency and those of several other states are part of the inquiries, which generally focus on whether Genesis and other companies enticed residents to invest in crypto-related securities without making the proper registrations. Borg declined to name the other companies.