Bankrupt cryptocurrency lending firm Genesis Global Capital is seeking court approval for its proposal to distribute billions of dollars in assets to creditors. Genesis and DCG are scheduled to clash in court on Monday in White Plains, New York over the plan to repay creditors of this bankrupt subsidiary, whose digital assets and cash have been frozen on the platform since several major cryptocurrency companies collapsed in November 2022. Under Chapter 11 bankruptcy law, Genesis estimates that if its plan is approved by the court, creditors who are provided with digital assets can recover up to 77% of their debt, but if DCG wins, the amount recovered will be reduced. Creditors include high net worth clients who lent cryptocurrency to Genesis and customers of Gemini Earn.