Genesis agreed to pay $175 million to FTX's Alameda Research and waive all claims against FTX's assets

ChainCatcher news, according to Fortune, FTX and Genesis have reached a settlement agreement regarding their bankruptcy liquidation process. Genesis has agreed to pay $175 million to Alameda Research, a trading company under FTX, and waive all claims against FTX's assets.

Since the collapse of FTX, it has been trying to recover billions of dollars in assets lent to politicians, hedge funds, and crypto companies, with FTX initially demanding Genesis repay nearly $4 billion in loans given to Alameda. However, Genesis is also in trouble due to its own bankruptcy.