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Some Genesis claims sold for 25% to 35% of face value

February 4, 2023
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Andrew Glantz, Xclaim’s chief strategy officer, said three claims transactions have been confirmed following Genesis’ bankruptcy filing, with an average value of more than $1 million, between 25% and 35% of face value.

A $4 million claim was sold to Jefferies Leveraged Credit Products LLC, according to a filing Tuesday.

It is reported that Xclaim is a platform that focuses on providing trading encrypted claims. In previous news, on January 20, Genesis and its lending subsidiary filed for Chapter 11 bankruptcy.

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