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Crypto Lender Genesis Agrees to $33M Settlement With Crypto Hedge Fund 3AC in Billion Dollar-Claim

Genesis agrees to a $33 million settlement with Three Arrows Capital, significantly less than the original $1 billion claim, amid ongoing crypto turmoil.

Bankrupt crypto lender Genesis has consented to a settlement with the now-defunct crypto hedge fund Three Arrows Capital (3AC), culminating in a $33 million payment against a staggering $1 billion claim.

This development, revealed through court documents, underscores the volatility and the inherent risks in the crypto market. The settlement, a product of “extensive negotiations,” is still pending approval from a New York bankruptcy court.

Read more at News.law

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