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TechFlow reports, according to court documents, that cryptocurrency lender Genesis has agreed to pay $33 million to settle a $1 billion claim brought by Three Arrows Capital (3AC), with both parties "mutually releasing each other from liability."
The resolution comes after "extensive negotiations" between the two sides, and Genesis is now seeking approval from the New York bankruptcy court. A hearing on the proposed settlement is scheduled for November 30.
Court documents show that cryptocurrency lending firm Genesis has agreed to pay $33 million to settle a $1 billion claim brought by Three Arrows Capital (3AC) and "mutually release claims" against each other. The resolution, reached after "extensive negotiations," is subject to approval by the New York bankruptcy court. A hearing on the proposed settlement is scheduled for November 30.
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