#SaleOfTrustAssets.
On February 14, Judge Lane approved #Genesis’s #MotionAuthorizingSaleofTrustAssets (see February 9th update, below). Pursuant to the bankruptcy court’s order approving the motion, Gemini is authorized to begin monetization of the Initial Collateral (30,905,782 shares of #GBTC ) it holds for the benefit of #Earn users (see February 2nd and January 26th updates, below). This is an important step that will facilitate in-kind distributions to Earn users (i.e., the return to Earn users of the specific digital assets they loaned rather than an equivalent value in dollars or an alternative #cryptocurrency ). Distributions cannot be made to any Genesis creditors, including Earn users, unless and until the Amended Plan is confirmed; Gemini’s monetization of the Initial Collateral in anticipation of the confirmation hearing will expedite in-kind distributions to Earn users if and when the Amended Plan is confirmed.

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#SaleOfTrustAssets. #salemhamidi #cryptotipshop #CryptoNewss