Digital Currency Group (DCG) said it's close to "reaching an agreement in principle to resolve the claims in the Genesis Capital Chapter 11 cases," according to a letter sent to shareholders Monday.

DCG added that it sees resolving the bankruptcy cases "soon."

The Genesis lending business froze withdrawals last year in the aftermath of FTX's collapse, which, among other things, affected customers of a lending product from the Gemini exchange. The led to a public war of words between the two sides, and this remains one of the more contentious issues to iron out in the Genesis restructuring.

In the letter, DCG also revealed it had found a new chief financial officer, Mark Shifke, filling a role vacant since earlier this year.

DCG Genesis Bankruptcy

Nick Baker

Nick Baker is CoinDesk's deputy editor-in-chief. He won a Loeb Award for editing CoinDesk's coverage of FTX's Sam Bankman-Fried, including Ian Allison's scoop that caused SBF's empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.