FTX and Genesis reached a deal on Thursday to have Genesis pay $175 million to Alameda Research, which the lending firm says will “smooth the path” to confirming its bankruptcy plan. 

“The settlement will, among other things, significantly smooth the path to confirmation of the Genesis Debtors’ chapter 11 plan of reorganization (the “Genesis Plan”), as well as eliminating the risks, expenses, and uncertainty associated with protracted litigation among the FTX Debtors, the Genesis Debtors, and GGCI,” Genesis lawyers said in a court filing. 

Genesis also agreed to waive all other claims against FTX, according to the filing. 

FTX originally filed the claim in May, which amounted to almost $4 billion. Genesis too had asserted claims against FTX, including $176 million in …