FTX and Genesis were able to agree

The bankrupt crypto exchange and the cryptolanding platform were able to reach an agreement in principle. For which claims will be settled. They were presented to FTX as part of the bankruptcy recognition process.

What is known about the agreement

The lawyers of the companies sent the necessary notification to the judge as part of the process. However, the details were not specified in it. The parties want to approve this document.

This agreement will allow the settlement of the exchange's claims against debtors. The situation is similar with a cryptolanding platform. Due to the approval of the agreements, the petitions that are currently being considered will be rejected.

In May of this year, the lawyers of the crypto exchange filed a lawsuit against Genesis. They demanded the return of almost $4 billion. In the future, this claim may be halved.

Court documents claim that the landing site is included in the list of the largest creditors of the crypto exchange. Which are not secured. At the same time, they have a debt of $226 million.

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