Genesis applied to the court to reach a settlement with Three Arrows Capital, reducing the US$1 billion compensation to US$33 million.

Odaily News The crypto lending company Genesis, which has previously declared bankruptcy, has recently filed an application with the court in an attempt to reach a previously proposed settlement agreement with Three Arrows Capital. Court documents show that Three Arrows Capital initially filed a $1 billion claim against Genesis. According to the settlement agreement, Three Arrows Capital can obtain a general unsecured claim of $33 million, which can greatly reduce the amount of Genesis’ compensation. (Cointelegraph)