Genesis Global and its related entities announced that it has completed its restructuring process on Friday, after filing for bankruptcy protection in January 2023. The firm has also begun distributing approximately $4 billion worth of digital assets and U.S. dollars to repay creditors, according to a press release.

When it filed for bankruptcy last year, Genesis disclosed it had over 100,000 creditors and had as much as $10 billion in liabilities. It owed approximately $3 billion to its top 50 creditors, including crypto exchange Gemini, asset manager VanEck and trading firm Cumberland.

Wallets connected to Genesis began transferring $1.5 billion worth of bitcoin and ether on Friday, as reported earlier by The Block. The firm said it has reached out to creditors with instructions on …