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FTX and Genesis representatives informed the US court that they are ready to settle the bankruptcy case. In a filing to Judge Lane of the United States Bankruptcy Court, FTX and Genesis lawyers state that they agreed on a potential settlement between the two parties in the ongoing bankruptcy case. @Geminiearn @Gemini Genesis Debtor just submitted this letter to the court indicating agreement with FTX. Lift Stay Motion and Estimation will be mooted. Waiting for the "Settlement" to see what the numbers are. pic.twitter.com/hvRK8lX6X6 — CryptoEquality (@crypto_equality) July 28, 2023 The letter provided no further details on the agreement. But if the case is settle d, both FTX’s claims against Genesis debtors and the reverse petitions could be satisfied. Currently, both FTX and Genesis are bankrupt . Their investors and clients are seeking to get their money back in various lawsuits worldwide. You might also like: $175 million of Genesis locked in FTX ...

The Gemini- Genesis battle has taken several turns over the last couple of months. In a new turn of events, Gemini accused the Digital Currency Group [ DCG ] of missing out on a $630 million payment. The exchange revealed that DCG was obligated to carry out the payment last week. This further added a new dimension to the ongoing dispute. Gemini and Genesis have been embroiled in a highly publicized dispute surrounding the Gemini Earn program. As the primary partner for the exchange’s earn service, Genesis unexpectedly suspended withdrawals in November 2022. This decision sparked anger from the Winklevoss twins. In response, they threatened legal action against the parent company of Genesis , DCG , as well as its founder Barry Silbert. Adding to the conflict, Gemini pressed Genesis to develop a repayment plan for the $900 million loan that Gemini had extended to the now-bankrupt Genesis Global. The clash between the two parties continues to unfold in the public eye. In its late...