Genesis, a crypto lender, has petitioned the bankruptcy court for approval of a settlement principle, about which earlier announced on Feb. 28, aiming to return all digital assets to Genesis Earn users "in kind." Pending court approval, approximately 97% of funds will be disbursed soon, with the remainder as recoveries from parent company Digital Currency Group (DCG) come in. Genesis initiated the compensation process by seeking court approval. Genesis suspended withdrawals and new loans in November 2022 amid market turmoil following the FTX implosion. In January 2023, both Genesis and Gemini faced SEC charges.