Published: 04 Aug 2024 › Updated: 04 Aug 2024
A LENDING PLATFORM HAS CONCLUDED ITS BANKRUPTCY PROCESS
Bloomberg reports that Genesis Global, a lending platform, has concluded its bankruptcy process and begun distributing approximately $4 billion in cryptocurrency and cash to its clients.
💰 Creditors in BTC will get back 51.28%, Ethereum creditors will receive 65.87%, and SOL creditors will obtain 29.58%. The distributions will be made in kind.
This development adds further pressure to the declining crypto market. 🧐
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