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Market
Outcome of Genesis distribution process by end of 2024
5
Resolution / Starting Odds
Completed as planned • 33%
Partially completed • 33%
Postponed or altered • 34%
Court documents or Genesis' official communications
Story
Genesis Wins Court Approval to Distribute $3 Billion to Creditors, Up to 77% Recovery
May 18, 2024, 12:30 AM
Bankrupt crypto lender Genesis has won court approval to distribute billions of dollars in digital assets and cash to creditors, defeating a legal challenge brought by its corporate parent Digital Currency Group (DCG). The approved plan allows Genesis to return $3 billion to customers in a bankruptcy wind-down, with creditors potentially recovering up to 77% of their funds. The decision was made by Judge Lane from the Southern District of New York court, who rejected objections from DCG's CEO, Barry Silbert.
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Similar markets
70-79% • 25%
80-89% • 25%
90-99% • 25%
100% • 25%
Favorable to Evergrande NEV • 25%
Unfavorable to Evergrande NEV • 25%
Settled out of court • 25%
Ongoing/Unresolved • 25%
70-79% • 25%
80-89% • 25%
90-99% • 25%
100% • 25%
Most creditors recover >80% • 25%
50-80% recovery for most creditors • 25%
30-50% recovery for most creditors • 25%
<30% recovery for most creditors • 25%
Positive impact, market stabilizes • 25%
Neutral impact, no significant change • 25%
Negative impact, increased volatility • 25%
Negative impact, further declines in trust and investment • 25%