As reported by CoinDesk, a court filing on Tuesday showed that Digital Currency Group (DCG) has reached an in-principle deal with Genesis creditors to resolve the claims Genesis' bankruptcy.
According to the deal, Genesis' unsecured creditors could recover 70%- 90% in USD equivalent and 65%- 90% on an in-kind basis depending on the denomination of the digital asset.
Genesis' lending arm suspended withdrawals last November following FTX's collapse, and Genesis filed for bankruptcy protection in January.
<img src="https://s2.tokeninsight.com/static/calendar/img202308290254594055c938-e3e1-46ae-a80a-24772825eda0.jpg">
<ul>
 <li>Stay updated with the most important <a target="_blank" href="https://tokeninsight.com/en/news">cryptocurrency news</a> and valuable insights, conveniently delivered to your email every day. <a rel="noopener noreferrer nofollow" target="_blank" href="https://mailchi.mp/tokeninsight/newsletter">Subscribe to the TokenInsight mailing list now!</a></li>
 <li>Prefer social media? Follow us on <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/tokeninsight">Twitter</a>, or subscribe to our <a rel="noopener noreferrer nofollow" target="_blank" href="https://t.me/TokenInsightchannel">Telegram channel!</a></li>
 <li>If you have news reports or announcements that you want to reach a wider audience, feel free to email us at <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a></li>
</ul>

DCG Reaches In-Principal Deal with Genesis Creditors, Could Recover Up to 90%

TokenInsight

Other articles published on Aug 29, 2023

Bitcoin Bounces 6% As Grayscale Breaks ETF Barrier in US Court Win

DOJ Seeks to Ban Bankman-Fried’s Expert Witnesses From Testifying!

BIS says regulate crypto - don’t ban it

Bitcoin (BTC) Miner Canaan's Revenue Spikes by 43%, New Report Says

Shibarium Experiences Remarkable Surge Following Relaunch

Dropbox hits back at storage-hungry crypto miners

Join our free newsletter for daily crypto updates!