Genesis Global to Return $3 Billion to Customers Following Bankruptcy Court Approval

Judge Sean Lane dismisses DCG's objections, prioritizes repayment to customers and other creditors over equity owner.

• Genesis Global will repay approximately $3 billion in cash and cryptocurrency to its customers.
• The U.S. Bankruptcy Court's decision leaves Digital Currency Group (DCG) with no recovery from the bankruptcy.
• Judge Lane ruled that Genesis must settle debts with other creditors, including federal and state regulators, before paying DCG.
• Genesis customers could recover up to 77% of their claims, depending on future cryptocurrency price fluctuations.
• The ruling also includes settlements with state and federal authorities over the Gemini Earn program.

3 Articles

Benzinga mint mint