A lawyer for the bankrupt Genesis Global Capital said on Monday that the cryptocurrency lender had some confidence it could resolve its disputes with creditors this week, with a goal of emerging from Chapter 11 by late May.
The filing followed the bankruptcies since last July of crypto lenders Celsius Network, Voyager Digital and BlockFi.
"Sitting here right now, I don't think we're going to need a mediator," he said. "I'm very much an optimist." U.S. Bankruptcy Judge Sean Lane granted a series of "first-day" motions by Genesis, including to pay employees and critical vendors, which are common in bankruptcy cases. Genesis' bankruptcy does not include DCG, or Genesis' derivatives and spot trading, custody and brokerage businesses. DCG also controls the asset manager Grayscale and news service CoinDesk.
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