<div class="watcher-guru"> 
 <p>On January 20, 2023, <a rel="noopener noreferrer nofollow" title="Genesis" href="https://thebittimes.com/tag/genesis.html">Genesis</a> Capital filed for Chapter 11 bankruptcy. The company has been in a public dispute with the cryptocurrency exchange Gemini. Despite efforts toward reaching a comprehensive settlement, there appear to be some obstacles to its resolution.</p> 
 <p>However, the obstacles seem to be fading away as <a rel="noopener noreferrer nofollow" title="Digital Currency Group" href="https://thebittimes.com/tag/digital-currency-group.html">Digital Currency Group</a> (<a rel="noopener noreferrer nofollow" title="DCG" href="https://thebittimes.com/tag/dcg.html">DCG</a>) communicated to the shareholders that it is narrowing down its efforts to reach an agreement to resolve the claims in the <a rel="noopener noreferrer nofollow" title="Genesis" href="https://thebittimes.com/tag/genesis.html">Genesis</a> Chapter 11 Bankruptcy.</p> 
 <p><strong>Also read:&nbsp;Ripple Predicts Blockchain’s Potential to Save Financial Institutions $10B</strong></p> 
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 <h2 class="wp-block-heading" id="h-dcg-expects-a-quick-resolution-to-the-bankruptcy">DCG expects a quick resolution to the bankruptcy</h2> 
 <p>In addition to that, DCG also mentioned in the&nbsp;letter&nbsp;that was shared with the shareholders that they see the Genesis bankruptcy cases resolving soon.</p> 
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 <p><strong>Also read:&nbsp;Dogecoin Army Buzzing with Anticipation After Elon Musk’s Tweet</strong></p> 
 <p>In February, <a rel="noopener noreferrer nofollow" title="Genesis" href="https://thebittimes.com/tag/genesis.html">Genesis</a> Capital submitted a comprehensive proposal to the bankruptcy court, outlining its plan for resolving the bankruptcy situation. The company had reached an “agreement in principle” with <a rel="noopener noreferrer nofollow" title="DCG" href="https://thebittimes.com/tag/dcg.html">DCG</a> and its creditors regarding the bankruptcy. According to the settlement details, <a rel="noopener noreferrer nofollow" title="Genesis" href="https://thebittimes.com/tag/genesis.html">Genesis</a> creditors will receive an 80% recovery of the funds lost as a result of the bankruptcy. However, the settlement faced obstacles as creditors raised new demands.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>DCG</li> 
  <li>Digital Currency Group</li> 
  <li>Genesis</li> 
 </ul> 
</div>

DCG Optimistic about Resolving Genesis Chapter 11 Bankruptcy

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TheBitTimes

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