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Crypto lender Genesis to return $4 billion to customers in bankruptcy wind-down

NEW YORK - Crypto lender Genesis Global received court approval on Friday (May 17) to return about $3 billion (S$4 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy. US Bankruptcy Judge Sean Lane approved Genesis' Chapter 11 liquidation plan and overruled an objection raised.

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Genesis wins court nod to return $3 billion to creditors

Genesis wins court nod to return $3 billion to creditors
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Genesis Creditors to Receive 97% Payout by May Following Court Nod

Genesis Creditors to Receive 97% Payout by May Following Court Nod
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Bankrupt Genesis Global Receives Court Approval for $3,000,000,000 Payout to Customers

Bankrupt Genesis Global Receives Court Approval for $3,000,000,000 Payout to Customers
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Failed Crypto Firm Genesis Approved to Repay Creditors Billions

Bankrupt crypto lender Genesis Global Capital 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.

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