BANKRUPT CRYPTO FIRM GENESIS COMPLETES RESTRUCTURING

Bankrupt crypto firm Genesis completes restructuring. Bankruptcy judge signs off on order allowing Terraform Labs to subpoena FTX entities. Bankruptcy judge approves FTXs reorganization plan. Bankruptcy court told FTX and Alameda they owe BlockFi $1B, but its complicated. Bankrupt crypto lender Genesis sues Gemini to recover $689M of preferential transfers. Bankrupt crypto exchange FTX begins strategic review of global assets. Bankrupt crypto exchange QuadrigaCX to start interim distribution of funds. Bankrupt Detroit Held Hostage by Cybercriminals. Bankrupt Voyager platform secures $484M for creditor repayments. Genesis did not seek to cap creditor recoveries at their petition date value. Instead, announced the completion of its Chapter 11 restructuring plan on Aug. 2 and the disbursement of approximately 4, Crypto lender Genesis Global has completed its restructuring process on Friday, Genesis, the entities said in a statement Friday, Genesis sought to provide restitution to creditors through the chapter 11 plan and a creative settlement with the New York Attorney General, Crypto lender Genesis Global completed its bankruptcy restructuring on Friday and began distributing about 4 billion in cash and crypto assets to creditors. Why it matters: The distribution of funds closes the books on one of the highest-profile bankruptcies to result from the 2025 crypto collapse., Collapsed crypto lender Genesis Global and affiliates finished restructuring and began to distribute about 4 billion in digital assets and cash to creditors, according to a news release. As part of the initial distribution, Genesis creditors will recover 64% of their in-kind, and Ether creditors will receive 65.87% recoveries, Genesis also suffered a 2.4 billion hit when crypto hedge fund Three Arrows Capital defaulted on a loan from the firm following the Terra ecosystem, creditors will receive an average of 64% recoveries, after filing for bankruptcy protection in January 2025. The firm is also beginning to distribute 4 billion worth of assets to its remaining creditors. On average, Genesis filed for bankruptcy early last year. The crypto lender was ensnared by loans it had made to FTX sister company Alameda Research, which filed for bankruptcy in November 2025. In July 2025, an institutional lending platform that filed for bankruptcy in 2025, Unlike other crypto bankruptcy cases, 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, providing in-kind recoveries on a coin-for-coin basis until creditors are paid, depending on the type of crypto involved..