A US court has approved Genesis's bankruptcy plan, paving the way for the return of approximately $3 billion to creditors. The plan was approved despite objections from Digital Currency Group (DCG), which had argued that claims should be valued in US dollars at the time of the company's bankruptcy filing in January 2023.

Under the approved plan, creditors will be prioritized differently based on their claims. Those owed US dollars are expected to receive 100% of their loan balance, while those with cryptocurrency claims will face a shortfall due to price increases after the resolution was reached.

Gemini Earn, a service owned by the Winklevoss twins, has welcomed the decision and announced that it will begin refunding creditors. Approximately 97% of owed funds will be initially repaid through in-kind reimbursements, meaning that customers will receive the same type and amount of cryptocurrency they originally deposited.

This approach differs from FTX's plan, which will reimburse customers based on the dollar value of their claims at the time of FTX's bankruptcy filing. The refunds are expected to begin by the end of the month.