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. 🧐