Techub News reported that according to The Block, Genesis Global, a cryptocurrency lender that filed for bankruptcy in January 2023, announced that it had completed its restructuring process on Friday and has begun distributing approximately $4 billion worth of digital assets and U.S. dollars to repay creditors.

When it filed for bankruptcy last year, Genesis disclosed that it had more than 100,000 creditors and liabilities of up to $10 billion. The company owed about $3 billion to its top 50 creditors, which include cryptocurrency exchange platform Gemini, asset manager VanEck and trading firm Cumberland.

On average, Genesis creditors will receive 64% of their repayments in physical cryptocurrency, with slight variations for each currency. Bitcoin creditors will receive 51.28% of their Bitcoin, Ethereum and Solana creditors will receive 65.87% of their Ethereum and 29.58% of their Sol, respectively, while creditors in stablecoins or USD will receive 100% of their missing funds.