The bankruptcy court has verbally approved the proposed settlement agreement for Gemini, Genesis and their bankruptcy creditors

Mars Finance News, Gemini Trust releases update on Earn plan: At an April 16 hearing, the bankruptcy court gave oral approval to a global settlement agreement between Gemini, Genesis and other creditors in the Genesis bankruptcy case. This is another milestone in the process of achieving complete recovery of Earn users’ digital assets.

The settlement provides for initial distributions to Earn users to be approximately 97% of the digital assets owed to users as of the suspension date (November 16, 2022), with initial distributions expected to occur in late May or early June. The remainder of the distribution amount will be recovered from Digital Currency Group, Inc. (DCG).