The settlement marks a significant reduction from the nearly $3.9 billion claim that FTX, which is also bankrupt, had asserted earlier this year. Once-prominent digital asset exchange FTX and lender Genesis Global are two of several crypto firms that went belly up after a turbulent 2022 hit investor sentiment for bitcoin and other crypto tokens. FTX founder Sam Bankman-Fried has been charged with carrying out a "fraud of epic proportions."
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