Bloomberg Law
Jan. 23, 2023, 9:10 PM

Crypto Firm Genesis Aims for Creditor Deal in Days, or Mediator

Steven Church
Steven Church
Bloomberg News
Amelia Pollard

Crypto lender Genesis Global Holdco LLC will either have a deal in days with creditors owed about $3 billion, or it will ask the judge overseeing its bankruptcy to appoint a mediator to lead negotiations, the company said in court Monday.

The talks have included Barry Silbert’s Digital Currency Group, which is Genesis’ parent and one of the company’s top borrowers, company attorney Sean O’Neal said during a court hearing held by video. Genesis holds more than $1.65 billion in claims against DCG, O’Neal said.

“In this case there are literally hundreds of thousands of individuals whose money is ...

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