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.

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