Genesis Unit Among Firms Named to FTX Creditor Group (Correct)

A unit of digital asset firm Genesis won a spot on an official creditors committee in the FTX bankruptcy, a panel that may have a leading role in the biggest crypto insolvency case filed so far.

The US Trustee, a unit of the Justice Department that monitors bankruptcies, named nine creditors to the committee, according to a court filing Thursday. Judges typically rely on such groups to help shape payout plans in big, multibillion dollar bankruptcy cases.

The panels hire their own lawyers and financial advisers, conduct their own independent investigations and are involved in most negotiations in big, corporate ...