July 23, 2024 - The outstanding issues preventing the Plan effective date are resolved and distributions are imminent.

A brief amendment to the Plan Support Agreement is being circulated to signatories this week to address differences among crypto creditor groups regarding in-kind recovery.

The tentative distribution window is currently estimated to be August 2nd - August 12th. However, we must emphasize that these dates are not confirmed and subject to change.

While we do not directly control these dates, we actively work to influence the process, applying the pressure necessary to expedite the recovery of your funds from Genesis.

Our aim is to ensure your voice is heard throughout this process.

Your recovery value remains unaffected; the 100% recovery is still secure.

We will provide further updates when there is concrete, actionable information to share.

Important: Please be aware that Donut, Genesis, and Kroll *will never text you* regarding the Genesis bankruptcy.

We are in the final stages of recovering your funds from Genesis. Now that the court has entered the Confirmation Order, Genesis is working to set a Plan Effective Date to begin distributions. The tentative distribution window is currently estimated to be August 2nd - August 12th, and we expect to start distributions shortly after it. However, we must emphasize that these dates are not confirmed and subject to change.

According to the Plan, there will be a 100% recovery of funds from Genesis.

All withdrawals will be initiated and processed via the Donut web app. To prepare your account, please log in to your dashboard and confirm the bank account to which you will withdraw your funds. When the time for withdrawals comes, we will instruct you on how to initiate withdrawals.

Confirm a previously connected account by entering its details where instructed in your dashboard.

To connect a new bank account, enter its details where instructed in your dashboard. To complete the connection of your new bank account, please verify it via micro-deposits. Please allow 3 - 5 business days for micro-deposits to arrive. Your new account may undergo further security checks resulting in extended distribution timelines.

To avoid additional checks and a lengthy delay in your distribution we encourage you to confirm a previously connected bank account.

We have migrated user accounts to a new web dashboard. Log in here.

For the latest confirmed information, we recommend that you check this page prior to contacting us directly. Updates may occur at any time when significant developments arise.

On November 16th, 2022, in consultation with their professional financial advisors and counsel, Genesis took the decision to temporarily suspend redemptions and new loan originations in their lending business.

On January 19th, 2023, after two months of negotiations and numerous proposals, Genesis voluntarily filed for Chapter 11 bankruptcy protection. This was an important step for the recovery of funds.

On February 6th, 2023, Genesis announced to the court that they had reached an agreement in principle with and amongst its creditors, and on February 10th, this was publicly filed as a Term Sheet.

On June 13th, 2023, Genesis filed an amended proposed Plan and Disclosure Statement.

On August 28th, 2023, Genesis released an announcement that an agreement in principle had been reached among the Debtors, the UCC, and DCG following the end of mediation.

On October 24th, 2023 the Debtors’ filed a further revised version of their Amended Joint Chapter 11 Plan and Amended Disclosure Statement.

On November 28th, 2023, the Amended Disclosure Statement was approved, and the official solicitation and voting period for the Plan began. It will continue through early January.
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On January 25th, 2024 Genesis announced that creditors accepted Genesis's Chapter 11 Plan.

On February 26th, 2024 the Confirmation Hearing started and closing arguments concluded on March 22nd, 2024.

On May 17th, 2024 the court confirmed Genesis' Amended Joint Chapter 11 Plan.

On May 31st, 2024, the court entered the Confirmation Order.