Crypto lender Genesis has received court approval to distribute approximately $3 billion in digital assets and cash to creditors, defeating a legal challenge from its parent company Digital Currency Group. Creditors could recover up to 77% of their funds under Genesis' proposal. The decision prioritizes creditor claims over DCG's equity stake, with DCG receiving no recovery from the bankruptcy.
A bankruptcy judge also approved Genesis’s settlement agreement with the New York’s attorney general https://t.co/au57y9TD9A
NEWS: Following the settlement’s approval by a court on Friday, the NYAG announced details about its settlement with Genesis https://t.co/DlkoGOW7x9
New York Attorney General and Genesis secure $2 billion settlement following judge's sign off https://t.co/J3LDkkWbFU
🚨BREAKING: BANKRUPT CRYPTO LENDER GENESIS REACHES $2 BILLION SETTLEMENT WITH NEW YORK ATTORNEY GENERAL
Crypto lender Genesis Global received court approval to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy https://t.co/7J8DVV8yk0 https://t.co/LGs4Vm4eSw
Bankrupt Crypto Lender Genesis Agrees to $2 Billion Settlement to Repay Users ► https://t.co/k8AshdrVPq https://t.co/k8AshdrVPq
Genesis settles with NYAG for $2 Billion. Proceed up.
NY AG announces a $2B settlement with crypto lender Genesis, after claiming Genesis misled investors about its Gemini Earn program, leading to $1B+ in losses (@kenziesigalos / CNBC) https://t.co/VrwbWQcB8S 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/64r9BCKd50
🚨 JUST IN: NY Attorney General Letitia James secures a historic $2B settlement with crypto lender #Genesis to repay defrauded investors.
New York AG announces $2 billion settlement with crypto lender Genesis
*NY Atty General James Secures Settlement Worth $2 Billion From Crypto Firm Genesis Global Capital for Defrauded Victims *NY AG: Genesis Global Capital Banned From Operating in New York
GENESIS TO RETURN $3B IN CUSTOMER ASSETS UNDER THE FINALIZED BANKRUPTCY PLAN - Genesis has secured court approval to return $3 billion in cash and crypto to creditors. This represents about 77% of customer claims. - However, the parent company, Digital Currency Group (DCG) will… https://t.co/HtLoa5fvHg https://t.co/KajXR3IUzd
UPDATE: GENESIS TO RETURN $3B IN CUSTOMER ASSETS AS PART OF FINALIZED BANKRUPTCY LIQUIDATION PLAN
Genesis is set to return 77% of customer assets in finalized bankruptcy liquidation plan, @thesamreynolds reports https://t.co/q9LI1ny2rd
Digital asset lender Genesis Global received court approval to pay billions in cash and crypto to creditors. The judge also rejected a legal challenge from parent company DCG https://t.co/v1AzG4FWjv
Court Approves #Crypto Lender Genesis' $3 Billion Payout to Customers #NewsBytes https://t.co/7QsEJhiMTs
Genesis Global secures court approval for a $3B payout to creditors, leaving parent company DCG with no recovery. https://t.co/QIYXn6RM8H
Earn Update: Yesterday, the Bankruptcy Court issued a decision (i) finding that Genesis’s Amended Plan should be confirmed and (ii) approving Genesis’s settlement with the New York Attorney General. While this is a welcome decision for Genesis creditors, it does not impact the…
"will pay back creditors about 77%" Crypto Lender Genesis Global Gets Wind-Down Plan Approved https://t.co/u57tJip0Xs
Crypto lender Genesis Global received court approval to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. https://t.co/CWpodGmOze
Genesis Wins Court Approval for $3 Billion Chapter 11 Distribution with 77% Recovery for Creditors Read More: https://t.co/KOr1iPVfeQ
Genesis will repay creditors around $3 billion in digital assets and cash under the approved Chapter 11 liquidation plan, based on current market values. DCG's proposal, tying repayments to cryptocurrency values at Genesis's bankruptcy filing in January 2023, failed in court. https://t.co/rphGxXcuzM
🚨 Bankrupt crypto lender #Genesis Global has received court approval to distribute approximately $3 billion to creditors. The decision prioritizes creditor claims over the equity stake of its parent company, Digital Currency Group (DCG), which will receive no recovery.
Failed crypto lender Genesis will return about $3bn to creditors — parent loses out https://t.co/ooR4yMsfK5
A court has approved a $3 billion payout for Genesis Global, with creditor claims taking priority over DCG's equity stake, according to Judge Lane.
Crypto Lender Genesis to Return $3 billion to Customers in Bankruptcy Wind-down https://t.co/suQRiTYTaX
1/ An update on the Genesis bankruptcy: Judge Lane from the Southern District of New York court today approved the Genesis bankruptcy plan to return value from the Genesis estate back to creditors and rejected @BarrySilbert's objections. https://t.co/p85uM96Imf
Crypto lender Genesis to return $3 billion to customers in bankruptcy wind-down @DietrichKnauth https://t.co/RvYYpSCLAR https://t.co/sDneEyfqXf
Genesis Wins Court Approval to Distribute $3 Billion to Creditors, Up to 77% Recovery Read More: https://t.co/j6VQ4mvhCB
Crypto lender Genesis to return $3 billion to customers in bankruptcy wind-down https://t.co/U8sHmzNf1n https://t.co/nCwS0kXguJ
Genesis’ plan to distribute billions of dollars in digital assets and cash to creditors won court approval, defeating a legal challenge from parent company DCG. Creditors could recover up to 77% of their funds under Genesis’ proposal. https://t.co/txEcQ9vcxd
⚠️ CRYPTO LENDER GENESIS TO RETURN $3 BILLION TO CUSTOMERS IN BANKRUPTCY WIND-DOWN Full Story → https://t.co/nLFcVyl5rn https://t.co/qOXoTRyt1V
Bankrupt crypto lender Genesis won court approval of its plan to distribute billions of dollars in digital assets and cash to creditors, defeating a legal challenge brought by its corporate parent Digital Currency Group https://t.co/E0sK80R47I