Troubled crypto lender Genesis is reportedly confident that it could emerge from its bankruptcy proceedings in just a few months.
According to a new report by Reuters, Sean O’Neal, an attorney for Genesis, says that the embattled crypto firm could resolve matters with its creditors as soon as this week and potentially restart its operations by late May.
Reuters says that Genesis, a subsidiary of billionaire Barry Silbert’s Digital Currency Group, intends to auction off various assets with the goal of exiting bankruptcy by May 19th.
According to the report, Genesis has been in negotiation with its creditors for two months now and is open to mediation if it becomes necessary. Brian Rosen, a lawyer representing Genesis’ creditors, says that the firm and its moneylenders