Today news
About the same in other media
Court Frees Genesis to Sell GBTC Shares Worth $1.3B to Compensate Clients
Reading now: 273
Genesis Global obtained bankruptcy court approval on Wednesday to sell its Grayscale Bitcoin Trust (GBTC) shares.
The bankrupt crypto lender can now sell its 35m GBTC shares worth over $1.3b as part of efforts to reimburse customers. In a Feb. 14 hearing conducted via Zoom, Judge Sean Lane signed off on an order permitting the debtors to sell the shares as desired. No timeline was specified.
Judge Lane’s approval allows the debtors to convert the shares into either bitcoin or cash.
Genesis also got the green light to call the shots on how to sell off the assets and to team up with a broker for the sales process.
BREAKING
Read more on cryptonews.comAbout this in other media
Cathie Wood’s Ark Invest Sells $7M Shares Each in Coinbase, Robinhood cryptonews.com /8 months ago
Is Crypto a Security? South Korean Courts Can’t Decide – and It’s Causing Legal Backlogs cryptonews.com /8 months ago
FTX Cleared to Sell Its Stake in AI Startup Anthropic cryptonews.com /8 months ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
