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🚀Genesis Global, the crypto lender that went belly up, has been given the green light to return a whopping $3 billion in cash and crypto to its creditors. The ruling, however, left parent company Digital Currency Group (DCG) high and dry. DCG's argument that Genesis should only pay the value of the crypto assets at the time of bankruptcy filing was dismissed. Judge Sean Lane said, "Nice try, but no cigar!" He ruled that DCG, being a junior player in the repayment hierarchy, must wait in line behind other creditors. With Bitcoin's value skyrocketing since the bankruptcy filing, DCG's equity interest is essentially a goose egg. Tough luck, DCG!

🚀Genesis Global, the crypto lender that went belly up, has been given the green light to return a whopping $3 billion in cash and crypto to its creditors. The ruling, however, left parent company Digital Currency Group (DCG) high and dry. DCG's argument that Genesis should only pay the value of the crypto assets at the time of bankruptcy filing was dismissed. Judge Sean Lane said, "Nice try, but no cigar!" He ruled that DCG, being a junior player in the repayment hierarchy, must wait in line behind other creditors. With Bitcoin's value skyrocketing since the bankruptcy filing, DCG's equity interest is essentially a goose egg. Tough luck, DCG!

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