Following its high-profile bankruptcy three weeks ago, the lending arm of crypto institutional brokerage Genesis has reportedly agreed on an in-principle restructuring plan.
According to an anonymous source cited by CoinDesk, the deal involves Genesis’s main creditors as well as its parent company, Digital Currency Group, which is run by crypto billionaire Barry Silbert. Genesis reportedly owes these main creditors approximately $2.4 billion, per CoinDesk, out of the approximately $3.4 billion in liabilities the company cited in its bankruptcy filing.
