Cryptocurrency broker Genesis has once again suspended withdrawals amid ongoing challenges
The move that comes after the US Bankruptcy Court for the Southern District of New York approved a settlement agreement between Genesis and the FTX entities. This agreement resolves a dispute in which Genesis will pay $175 million to
However, this settlement has not been without controversy. Various objections were raised, including by an ad hoc group of Genesis Lenders and the Gemini Trust Company. officially stopped all its cryptocurrency trading services, a decision stemming from the severe impacts of the Three Arrows Capital and FTX collapses on the company.
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