Genesis Global Capital, a bankrupt cryptocurrency lender, has received court approval for its $3 billion repayment plan under Chapter 11 proceedings.

The repayment plan prioritizes returning digital assets to creditors, leaving owner Digital Currency Group (DCG) with no assets for recovery.

Judge Sean Lane ruled in favor of paying customers based on current cryptocurrency values, despite objections from DCG.

DCG is not expected to receive any value from the payout.

The total cryptocurrency market cap is currently at $2.27 trillion with a slight decline.

Genesis's collapse followed the shutdown of FTX and Alameda Research in November 2022.

The repayment plan aims to provide at least 77% of the value of deposits to customers, with state and federal regulators having a higher priority in the repayment hierarchy.

This decision underscores the importance of current market value in determining creditor payouts, potentially impacting future crypto legislation.

DCG has not provided any comment on the ruling.