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The bankruptcy court has orally approved the proposed settlement agreement between Gemini, Genesis, and their creditors in the bankruptcy case

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2024-04-17 23:21:44
Gemini Trust Releases Update on Earn Plans: At a hearing on April 16, the bankruptcy court orally approved the global settlement agreement between Gemini, Genesis, and other creditors in the Genesis bankruptcy case. This is another milestone in the process of achieving full recovery of Earn users' digital assets.
The settlement stipulates that as of the suspension date (November 16, 2022), the initial distribution amount distributed to Earn users is approximately 97% of the digital assets owed to users, and the initial distribution is expected to take place in late May or early June. The remaining distribution amount will be recovered from Digital Currency Group, Inc. (DCG).