At Genesis' bankruptcy hearing, the company reached an agreement with its key creditors, approving an asset recovery plan.
The agreement involves Genesis Global Capital, its parent company Digital Currency Group, cryptocurrency exchange Gemini Trust Company and a group of other creditors.
All Genesis units will be merged into one holding company, Genesis Global Holdco. To do so, DCG has agreed to transfer its share of the assets it owned in Genesis Global Trading and Gemini has pledged $100 million.
