Genesis Global has received court approval to pay $3 billion

ChainCatcher news, the bankrupt cryptocurrency lending institution Genesis Global has received court approval to return approximately $3 billion in cash and cryptocurrency to creditors. Judge Sean Lane approved Genesis's Chapter 11 repayment plan on Friday, May 17.

In the ruling, Judge Sean Lane dismissed the objections raised by DCG, which argued that the amounts paid by Genesis to its customers and creditors should not exceed the value of the crypto assets at the time Genesis filed for bankruptcy in January 2023.