Genesis received court approval to sell $1.6 billion of Grayscale shares
A judge on Wednesday granted Genesis' request and allowed the bankrupt lender to sell its shares of Gary Scale's bitcoin ETF.
The proposal allows the debtors to begin selling shares at their discretion and does not set a timetable. US Bankruptcy Judge Sean Lin also rejected the cryptocurrency group's request for advice on the stock.
As part of his approval, Judge Lane added that the debtors could convert the shares into bitcoins or cash. Genesis' lawyer estimated the value of Greyscale's Genesis stock at $1.6 billion. / Source
