Summary:
– Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.
– The agreement was in principle and did not provide any details on the settlement.
– The settlement would resolve FTX’s claims against Genesis debtors and vice versa.
– Both parties intend to document and seek court approval of the settlement promptly.
– FTX has previously claimed that Genesis owed the bankrupt exchange as much as $4 billion but reduced the amount to $2 billion.
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FTX and Genesis, two bankrupt crypto firms, have reached an agreement in principle to settle the claims brought by FTX in its bankruptcy case. The legal counsels for both firms sent a letter to the bankruptcy judge stating that they had agreed to a settlement. However, the details of the settlement were not provided in the letter. The settlement would resolve FTX’s claims against Genesis debtors and vice versa. Both parties plan to document and seek court approval of the settlement promptly. FTX had initially claimed that Genesis owed the bankrupt exchange $4 billion but later reduced the amount to $2 billion.
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FTX and Genesis have reached an agreement in principle to settle the claims brought by FTX in its bankruptcy case. The details of the settlement were not provided in the letter sent to the bankruptcy judge. The settlement would resolve FTX’s claims against Genesis debtors and vice versa. Both parties plan to document and seek court approval of the settlement promptly. FTX had initially claimed that Genesis owed the bankrupt exchange $4 billion but later reduced the amount to $2 billion.
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FTX and Genesis, both bankrupt crypto firms, have agreed in principle to settle the claims brought by FTX in its bankruptcy case. The details of the settlement were not provided in the letter sent to the bankruptcy judge. The settlement would resolve FTX’s claims against Genesis debtors and vice versa. Both parties plan to document and seek court approval of the settlement promptly. FTX had initially claimed that Genesis owed the bankrupt exchange $4 billion but later reduced the amount to $2 billion.
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– Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case.
– The agreement was in principle and did not provide any details on the settlement.
– Both firms are bankrupt and have been trying to collect money for creditors while under court supervision.
– The settlement would resolve FTX’s claims against Genesis debtors and vice versa.
– Both parties intend to document and seek court approval of the settlement promptly.
– FTX has previously claimed that Genesis owed the bankrupt exchange as much as $4 billion but reduced the amount to $2 billion.
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FTX and Genesis, two bankrupt crypto firms, have reached an agreement in principle to settle the claims brought by FTX in its bankruptcy case. The legal counsels for both firms sent a letter to the bankruptcy judge stating that they had agreed to a settlement. However, the details of the settlement were not provided in the letter. The settlement would resolve FTX’s claims against Genesis debtors and vice versa. Both parties plan to document and seek court approval of the settlement promptly. FTX had initially claimed that Genesis owed the bankrupt exchange $4 billion but later reduced the amount to $2 billion.
