Crypto exchange Gemini tries to line up other creditors in new Genesis bankruptcy plan: report

Cryptocurrency exchange Gemini is trying to rally other creditors behind a plan to wring more money out of bankrupt crypto lending firm Genesis’ parent company, Digital Currency Group (DCG), The Information reported on Friday.

The new proposal would involve some creditors’ fronting funds to help pay others back quickly in exchange for a bigger share of any money won by suing DCG, and maps out a range of options for creditors, estimating they could recoup up to $2.8 billion from Genesis.