• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ledger CTO Warns Of Crypto Clipper Malware Following Major NPM Breach
Genesis

Genesis Reaches $1 Billion Settlement With Bankrupt Hedge Fund 3AC

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In a recent development, bankrupt crypto lender Genesis has settled with defunct crypto hedge fund Three Arrows Capital (3AC), ending a months-long legal battle. 

According to court documents, Genesis will pay $33 million to resolve the more than $1 billion in claims asserted by 3AC against the Genesis Debtors.

Genesis Resolves Dispute With 3AC

The settlement agreement, submitted to the court for approval, outlines the terms of the resolution between the parties. Under the agreement, the 3AC Debtor will receive an allowed general unsecured claim of $33,000,000 against Genesis Global. 

Related Reading: GBTC Premium Drops To 2-Year High, Time For Spot Bitcoin ETF?

In addition to the monetary settlement, the agreement includes mutual liability releases between the crypto lender and 3AC. Both parties will be released from further claims against each other as outlined in the settlement agreement. However, it’s important to note that the Genesis Debtors will retain any claims they may have against DCG.

According to the bankrupt crypto lender founded by Barry Silbert, the proposed settlement holds significant benefits for Genesis Debtors’ estates. The court filing shows that this settlement will pave the way for confirmation of the debtors’ Chapter 11 reorganization plan, allowing for prompt distributions to creditors. 

The settlement agreement has been “carefully considered” and approved by Holdco’s Special Committee of the Board of Directors. After consultation with legal and financial advisors, the committee concluded that the agreement was in the interests of the Genesis Debtors’ estates and their creditors.

Master Loan Agreements And Pledge Agreement

The court filing also provides background information on the Chapter 11 cases filed by the debtors in January 2023. The Genesis Debtors, currently operating as debtors-in-possession, sought relief under Chapter 11 of the Bankruptcy Code. 

Before the bankruptcy filings, the debtors had a lending relationship with the 3AC Debtor through various agreements. These agreements included Master Loan Agreements (MLAs) and pledge agreements between Genesis Global Capital, Genesis Asia Pacific, and the 3AC Debtor.

Nevertheless, the settlement marks a significant milestone in the Genesis Debtors’ bankruptcy proceedings and brings closure to one of the largest asserted claims in the Chapter 11 Cases. 

Related Reading: NFTs Are Seeing A Resurgence: Signs Of Crypto Bull Market?

With the settlement agreement’s approval, the company can move closer to confirming its Chapter 11 reorganization plan and distributing assets to creditors. The resolution of this high-profile case will likely serve as a benchmark for future negotiations and settlements within the crypto lending sector.

Genesis
The total crypto market cap experiencing sideways price action on the daily chart above $1.35 trillion. Source: TOTAL on TradingView.com

As of the current update, the total market capitalization of the cryptocurrency market stands at $1.372 trillion, reflecting a marginal decrease of 0.18% over the past 24 hours.

Featured image from Shutterstock, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

RLUSD

Electric Car Maker Taps RLUSD For Payments As XRP Strategy Unfolds

2 hours ago
Best Crypto to Buy as Kazakhstan Wants National Crypto Reserve in 2026

Best Crypto to Buy as Kazakhstan Plans National Crypto Reserve in 2026

4 hours ago
Crypto news

‘Crypto Cloud Reset’: Putin Adviser Accuses US Of Plot To Erase $35 Trillion Debt

4 hours ago
Whales Rush In As Bitcoin Hyper’s $14.6M Presale Becomes $BTC's Ticket to Mainstream Success

Whales Rush In As Bitcoin Hyper’s $14.6M Presale Becomes $BTC’s Ticket to Mainstream Success

6 hours ago
Little Pepe Presale Hits $25M, Almost Sold Out Before Ethereum L2 Launch

Little Pepe Presale Hits $25M, Almost Sold Out Before Ethereum L2 Launch

7 hours ago
$USDD Takes on Tether as L2s Innovate: $BEST Benefits

$USDD Takes on Tether: As L2s Innovate, $BEST Benefits

8 hours ago

Premium Sponsors

Press Releases

  • miner

    Ripple (XRP) is attracting investor interest: ALL4 Mining...

    5 minutes ago
  • MINER

    2025 Free Crypto Cloud Mining Sites Detailed Guide: No...

    2 hours ago
  • BAY Miner’s

    BTC Swings? BAY Miner’s USD Contracts Yield $85,777...

    2 hours ago
  • Bitcoin

    BTC’s surge doesn’t wait! GMO Miner helps you...

    2 hours ago
  • Cloud Mining

    Compliance and High Returns: ALR Miner Cloud Mining, with...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.