Digital Currency Group (DCG), the parent company of Genesis, a crypto lender that filed for bankruptcy, has announced the appointment of Aimie Killeen as its first-ever chief legal officer. Killeen, who previously served as the chief legal officer at Billtrust, a software and payments company, will assume her new role on May 1, overseeing international legal matters, mergers and acquisitions, and compliance.

The move comes at a critical juncture for DCG as it grapples with legal challenges, including a lawsuit from New York's Attorney General Letitia James. The lawsuit, filed in January 2023, alleges investor fraud and seeks to bar Gemini, Genesis, and DCG from financial investment activities in New York. It also aims to obtain compensation for investors and recover any unlawfully acquired profits.

DCG's subsidiary, Genesis, filed for bankruptcy following the collapse of the FTX exchange, adding to the legal complexities facing the company. CEO Barry Silbert has sought to dismiss the lawsuit filed by the New York Attorney General, denying allegations of concealing losses from investors tied to Gemini Earn and financial irregularities involving a promissory note between DCG and Genesis.

In a statement announcing Killeen's appointment, Silbert expressed confidence in her ability to navigate the legal challenges facing the company while executing its growth plans. As DCG continues to evolve in the rapidly changing cryptocurrency landscape, the appointment of a seasoned legal professional like Killeen underscores the company's commitment to compliance and legal integrity.

As DCG prepares to address the legal hurdles ahead, investors and industry observers will closely monitor the developments surrounding the lawsuit and the implications for the company's future operations.