Court Gives Green Light for Genesis Crypto Lender’s $3 Billion Payout to Clients

Crypto lending company Genesis Global has received court approval to return around $3 billion to its customers as part of its bankruptcy liquidation process. This decision was made by U.S. Bankruptcy Judge Sean Lane, who approved Genesis’ Chapter 11 plan despite objections from its equity owner, Digital Currency Group (DCG). DCG had argued that repayments should be calculated based on cryptocurrency values from January 2023.

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