Genesis, Digital Currency Group Reach In-Principle Agreement to Settle Creditors' Claims
Digital Currency Group (DCG) has reached an agreement in principle with Genesis Global's creditors to resolve claims arising from the crypto lender's bankruptcy. The agreement aims to provide a fair recovery for creditors, with unsecured creditors potentially seeing a recovery ranging from 70% to 90% in US dollars. The agreement also addresses DCG's existing liabilities, including unsecured loans and a promissory note.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Genesis, Digital Currency Group Reach In-Principle Agreement to Settle Creditors' Claims
Digital Currency Group (DCG) has reached an agreement in principle with Genesis Global's creditors to resolve claims arising from the crypto lender's bankruptcy. The agreement aims to provide a fair recovery for creditors, with unsecured creditors potentially seeing a recovery ranging from 70% to 90% in US dollars. The agreement also addresses DCG's existing liabilities, including unsecured loans and a promissory note.