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

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

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.

Source

Lending

Related News
Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack
Aave proposal considers activating fee switch and buying back tokens from open market Aave proposal considers activating fee switch and buying back tokens from open market
Risk Manager Gauntlet Quits Aave and Moves to Rival Lending Protocol Morpho Risk Manager Gauntlet Quits Aave and Moves to Rival Lending Protocol Morpho
Radiant Capital Loses $4.5M in Exploit, Halts Lending Market on Arbitrum Radiant Capital Loses $4.5M in Exploit, Halts Lending Market on Arbitrum
Latest News More More
1 Day Ago Eliza Labs unveils auto.fun, a no-code AI agent launchpad with 'fairer than fair' token model
1 Day Ago Non-KYC exchange eXch to close down under money laundering scrutiny tied to Lazarus Group
2 Days Ago Base scrutinized over promotion of token that briefly crashed 95%; says part of 'contentcoin' vision
4 Days Ago Layer 1 MANTRA's token falls 90% in sudden crash; team blames 'reckless liquidations'
4 Days Ago Canada to launch spot Solana ETFs this week: report
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open