Genesis Global agrees to a $2 billion settlement following its Chapter 11 bankruptcy filing in January 2023.

The bankruptcy was triggered by the collapse of FTX, resulting in over $1 billion in losses for victims of the Gemini Earn program.

New York Attorney General Letitia James announced the settlement, the largest ever against a crypto firm in the state.

A victims fund will be created to aid the 29,000 affected investors, with refunds starting in May.

Dollar creditors will receive full refunds first.

Genesis is barred from operating in New York.

Gemini expressed gratitude to the judge and clarified that the ruling does not affect their overall agreement with Genesis and other creditors.