Judge Says No 'Alarm Bells' Over $175M Genesis-FTX Deal

By Rick Archer · September 18, 2023, 5:04 PM EDT

A New York bankruptcy judge said on Monday a $175 million proposed settlement of nearly $4 billion in claims between bankrupt cryptocurrency firms Genesis Global Holdco and FTX does not ring...

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Bankruptcy Scorecard

Summary

Cryptocurrency lending platform Genesis Global Holdco LLC filed for Chapter 11 bankruptcy in January 2023 with $5.1 billion, after huge players in the digital asset space fell into Chapter 11, including exchange FTX Trading Ltd. and lending platform Celsius Networks.

Case Number

23-bk-10063

Judge

Sean H. Lane

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$5.1 billion

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Related Sections

Case Information

Case Title

Genesis Global Holdco, LLC

Case Number

1:23-bk-10063

Court

New York Southern

Nature of Suit

Date Filed

January 19, 2023

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