Genesis Global Bankruptcy | Approval To Sell GBTC Shares

Genesis Global Holdco LLC, a prominent player in the digital asset lending sector, has received court approval to sell off its holdings in Grayscale’s GBTC shares, marking a significant development in its ongoing bankruptcy proceedings. This move comes amidst a flurry of legal battles and financial challenges the company has faced in recent months.

Genesis Global Cleared to Sell GBTC Shares

In a recent court ruling, Genesis has been given the green light to offload approximately 35.9 million shares of the Grayscale Bitcoin Trust (GBTC), valued at over $1.65 billion. This decision, delivered by Judge Sean Lane, allows Genesis to convert these shares into bitcoin or cash, providing a…

Read more on bitcoinnews

74.7K Reads