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Genesis and its creditors, represented by the Official Committee of Unsecured Creditors, the Ad Hoc Group of Genesis Lenders, and Gemini Trust, are working collaboratively to address Digital Currency Group’s nonpayment of approximately $627 million in dollars and BTC that was due last week during the ongoing mediation period. Among other things, as part of the ongoing mediation process, the parties are discussing potential terms of forbearance, a standalone chapter 11 plan for Genesis and other options to recover assets and maximize value to stakeholders.
Genesis is a premier institutional digital assets financial services firm providing a single access point for select qualified individuals and global institutional investors. Genesis combines best-in-class client service, unrivaled operational excellence and a seamless user experience to provide investors with a full suite of services to manage their portfolios.
The firm offers sophisticated market participants an integrated platform to trade digital assets, creating pathways to benefit from market opportunities while increasing capital efficiency for counterparties.
For more information on Genesis, please visit genesistrading.com.
FGS Global for Genesis[email protected]