Genesis Court Approval: $1.6B Crypto Trust Sales Boost

Genesis Gains Court Approval for $1.6 Billion BTC and ETH Trust Share Sales

In a significant development within the cryptocurrency sphere, Genesis, a prominent crypto lender, has successfully received authorization from a New York court to sell Bitcoin (BTC) and Ethereum (ETH) trust shares valued at approximately $1.6 billion. This court approval marks a pivotal moment for Genesis, especially following its bankruptcy filing in January 2023. The move is aimed at facilitating the repayment process to creditors, amidst ongoing financial restructuring.