FTX, Genesis seek to settle dispute in bankruptcy cases

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By BitcoinWiki News

Key Takeaways:

– Bankrupt FTX Trading and Genesis Global Holdco have agreed to settle a dispute surrounding their bankruptcy protection cases.
– Lawyers for both firms intend to document the settlement and file a motion for approval in their respective courts.
– The settlement details were not provided in the submitted letter.
– Bankrupt FTX had previously claimed that Genesis owed them as much as $2 billion.
– Genesis filed for Chapter 11 bankruptcy protection after facing financial losses from the collapses of Three Arrows Capital and FTX.
– Genesis owes around $3.6 billion to its top creditors, including Gemini.
– This article is for informational purposes only and does not provide legal, tax, investment, financial, or other advice.


FTX Trading and Genesis Global Holdco have reached an agreement in principle to settle their dispute surrounding their bankruptcy protection cases. The firms’ lawyers said they plan to document the settlement and file a motion for approval in their respective courts. The specific details of the settlement were not disclosed. Previously, FTX had claimed that Genesis owed it up to $2 billion, which could have delayed Genesis’s own court proceedings. Genesis filed for Chapter 11 bankruptcy protection in January after suffering financial losses from the collapses of Three Arrows Capital and FTX. The company owes around $3.6 billion to its top 50 creditors.

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