Digital Currency Group (DCG) and Genesis Global reached a settlement in their lawsuit by issuing a payment plan.
Genesis, which entered the bankruptcy process, filed a lawsuit in September, claiming that DCG had unfairly received more than $620 million in debt, demanding repayment with interest.
According to the new statement, DCG has repaid approximately $227.3 million of the $620 million it owes so far.
Within the scope of the agreement made between the parties, DCG will be issued in three stages, some in US dollars and some in Bitcoin, until April 2024. $275 million will pay more.
Digital Currency Group, owned by Grayscale Investments Shares in Grayscale Bitcoin Trust shows it as a mortgage.
As a result of the process, DCG was unable to pay off the money it owed to Genesis Global. paid in full will not happen, but the agreement between the parties will ensure that both from a litigation process that may take a long time It will have saved.