FTX and Genesis Global say they’ve reached settlement over claims

By Sarah Lizee

Olympia, Wash., July 28 – FTX Trading Ltd. and Genesis Global Holdco, LLC have reached an agreement in principle regarding a settlement that would resolve the claims they’ve asserted against each other, according to a letter filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

In response to the letter, judge Sean H. Lane said he appreciates the efforts of the parties and said he would stay briefing on the matters until further order of the court to allow the parties to memorialize their settlement.

FTX has headquarters in the Bahamas and filed Chapter 11 bankruptcy on Nov. 11, 2022 under case number 22-11068. Genesis Global is a New York-based cryptocurrency lender that filed bankruptcy on Jan. 19, 2023 under Chapter 11 case number 23-10063.

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