“Depending on how the bankruptcy claim is calculated, the Earn customers are estimated to get between $440 million and $765 million of a claim,” a DCG executive, who asked not to be identified, said in an interview. “That claim is estimated to receive distributions of $400 million to $535 million. And then on top of that Earn customers get the $600+ million dollars of collateral that Gemini is holding. So, they’re looking at total recoveries of a billion dollars or more, which is roughly their total claim. Essentially, it’s a full recovery for current customers under these scenarios.”
Related posts
-
NYAG Takes Victory Lap as Court Approves Genesis Settlement
“This historic settlement is a major step toward ensuring the victims who invested in Genesis have... -
Genesis Set to Return $3B Customer Assets in Finalized Bankruptcy Liquidation Plan
Bankruptcy claims began trading at 35% of account balance value when they were initially listed on... -
Accidental Bitcoin Transfer Pushes Satoshi Nakamoto’s Genesis Wallet Over 100 BTC
Based on the latest data, the well-known Genesis address owned by Satoshi Nakamoto now holds over...