Genesis Finalizes Restructuring Plan, Initiates Repayments

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Bankrupt crypto lender Genesis Global Capital has now completed its restructuring process and began debt repayment to creditors. This development comes amidst reports of Genesis making large-scale network transactions in the last day.

Genesis Moves $1.5 Billion Bitcoin And Ethereum For Debt Repayment
According to a Bloomberg report on Friday, Genesis and all associated companies have now announced the complete restructure of the crypto lending firm following its declaration of bankruptcy three years ago.
Genesis first announced a repayment plan in November 2023 which encountered much opposition from Genesis’s parent company – Digital Currency Group (DCG) – who rejected the idea of paying creditors a minimum of 77% of their deposits at the time of bankruptcy. DCG believed that such a measure would result in investors gaining more than was initially owed considering the rise in the valuation of crypto assets over the last year.
However, in May 2024, Genesis secure

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