Genesis to Pay $175 Million to Settle Bankruptcy Claims with FTX!

The post Genesis to Pay $175 Million to Settle Bankruptcy Claims with FTX! appeared first on Coinpedia Fintech News

Genesis and FTX have reached a settlement deal to resolve their claims related to their ongoing bankruptcies. Genesis will pay $175 million to FTX’s trading arm, Alameda Research, and also waive all claims against the FTX estate. This agreement comes as a relief to both companies and paves the way for them to navigate their bankruptcies smoothly. The deal further demonstrates the significance of robust risk management strategies in the crypto industry.