TechFlow news, according to Bloomberg, cryptocurrency lending firm Genesis Global Holdco LLC has received permission from a bankruptcy court to begin redeeming approximately 35 million shares of Grayscale Bitcoin Trust stock worth over $1.3 billion, in order to compensate clients who lent digital assets to the company.
Judge Sean Lane said Wednesday he would approve Genesis' request to convert GBTC shares into bitcoin or cash, a process that will be carried out gradually with the assistance of brokers.




