Genesis’s $2 Billion Fight With FTX Risks Creditor-Payout Delays
- Both crypto firms are in bankruptcy and fighting for cash
- Genesis judge say he expects delay in bankruptcy payout plan
This article is for subscribers only.
A $2 billion dispute between crypto lender Genesis Global Holdco and FTX Trading Ltd. will likely delay court consideration of a payout plan for Genesis creditors, a judge said Thursday.
Both firms are bankrupt and trying to collect money for creditors while under court supervision. Genesis is further along in that process and has asked the judge overseeing its insolvency case to consider approving a payout plan next month.