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Genesis filed with the court to settle with Three Arrows Capital, reducing the $1 billion in damages to $33 million
Genesis, a crypto lending company that has previously declared bankruptcy, has recently filed an application with the court to try to reach a previously proposed settlement agreement with Three Arrows Capital.
According to court documents, Three Arrows initially filed a $1 billion claim against Genesis, and under the settlement agreement, Three Arrows Capital would receive $33 million in general unsecured claims, which could significantly reduce Genesis' damages. (Cointelegraph)