**Genesis Global completes restructuring, creditors usher in the "blood recovery" moment! **

BlockBeats news, on August 3, according to The Block, cryptocurrency lender Genesis Global announced that it had completed the restructuring process this Friday and began to distribute digital assets and US dollars worth about $4 billion to creditors. This news undoubtedly brought a ray of hope to the market, especially for those creditors who had suffered losses due to its bankruptcy.

Last January, when Genesis Global filed for bankruptcy, it disclosed that its creditors exceeded 100,000 and its debt was as high as $10 billion. This figure once shocked the entire cryptocurrency market. In particular, the company owed about $3 billion to its top 50 creditors, including the well-known cryptocurrency trading platform Gemini, asset management company VanEck and trading company Cumberland.

So, how much can creditors recover? According to the latest news, on average, Genesis's creditors will recover 64% of the repayments in physical cryptocurrency. Of course, the situation of each currency is slightly different. Bitcoin (BTC) creditors will recover 51.28% of BTC, Ethereum (ETH) and Solana (SOL) creditors will recover 65.87% of ETH and 29.58% of SOL respectively. Creditors of stablecoins or US dollars will receive 100% of the missing funds.

This is undoubtedly exciting news, especially in the current market volatility. Although not all creditors can fully recover their losses, this reorganization undoubtedly brings them hope and actual financial compensation.

For the entire blockchain industry, this is also an event worthy of attention. The completion of Genesis Global's reorganization not only marks its own rebirth, but also provides a reference case for other troubled cryptocurrency institutions. The self-healing ability of the market has been verified here.

Of course, this incident has also sparked widespread discussion. Some people think that this is a sign that the market is gradually maturing, while others are taking a wait-and-see attitude towards future market trends. In any case, this reorganization has undoubtedly injected a shot in the arm for the market.

Dear readers, what do you think of the reorganization of Genesis Global? How do you think this will affect the cryptocurrency market in the future?Welcome to share your views and opinions in the comment section, let us explore this dynamic and changing industry together! 😊

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