The bankruptcy court has verbally approved the proposed settlement agreement between Gemini, Genesis, and their bankruptcy case creditors

ChainCatcher news, Gemini stated on social media that during the hearing on April 16, the bankruptcy court verbally approved a global settlement agreement between Gemini, Genesis, and other creditors in the Genesis bankruptcy case.

It is reported that the settlement agreement stipulates that as of the suspension date of Gemini Earn (November 16, 2022), the initial distribution amount to Earn users is approximately 97% of the digital assets owed to users, with the initial distribution expected to take place at the end of May or early June. The remaining distribution amount will be recovered from the Digital Currency Group (DCG).