Cryptocurrencies
Crypto Lender Genesis Completes Restructuring, Begins Payouts
- Bitcoin creditors will receive 51% recovery on in-kind basis
- Genesis distributions come soon after Mt Gox repaid billions
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Crypto lender Genesis Global and related companies completed its bankruptcy restructuring and began distributing about $4 billion in digital assets and cash to creditors.
Bitcoin creditors will receive 51.28% recoveries as valued on an in-kind basis, and Ether creditors will receive 65.87% recoveries, the entities said in a statement Friday. Solana creditors will receive 29.58% recoveries as valued on an in-kind basis.