TechFlow reports, according to Fortune, that FTX and Genesis have reached a settlement agreement regarding their bankruptcy proceedings. Genesis has agreed to pay $175 million to Alameda Research, the trading firm under FTX, and will relinquish all claims to FTX's assets.
Since FTX's bankruptcy collapse, the company has been attempting to recover billions of dollars lent out to politicians, hedge funds, and crypto firms. Initially, FTX demanded that Genesis repay nearly $4 billion in loans extended to Alameda. Meanwhile, Genesis itself has faced difficulties due to its own bankruptcy proceedings.




