Genesis seeks court’s approval to reduce Three Arrows Capital claim from $1B to $33M By Cointelegraph
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Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with imploded crypto hedge fund Three Arrows Capital (3AC).
According to a court filing on Nov. 9, Genesis argued that the 3AC debtor should receive an allowed general unsecured claim against Genesis in the amount of $33 million. The amount accounts for 3.3% of $1 billion in claims originally asserted against Genesis debtors.
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Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with imploded crypto hedge fund Three Arrows Capital (3AC).
According to a court filing on Nov. 9, Genesis argued that the 3AC debtor should receive an allowed general unsecured claim against Genesis in the amount of $33 million. The amount accounts for 3.3% of $1 billion in claims originally asserted against Genesis debtors.
Continue Reading on Cointelegraph
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