Bloomberg: Crypto Firm Genesis, FTX’s $2 Billion Dispute Risks Delayed Payments From Creditors

07/07 03:10

U.S. Bankruptcy Judge Sean Lane said the $2 billion dispute between Genesis and FTX could delay court consideration of Genesis creditor payment plans. Both companies are in bankruptcy and are trying to raise money for creditors under court supervision. FTX initially said Genesis owed it $3.9 billion, but reduced that amount to about $2 billion in a letter to Lane this week. Genesis requested a hearing to determine the legality of the alleged debt, and FTX wanted to sue Genesis, both of which were denied by the judge.

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