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The sale is poised to inject substantial liquidity into Genesis, which has been navigating through financial complexities.
Assad Jafri 2 min read 
Observers have questioned the potential connections between the transactions and SafeMoon's ongoing bankruptcy proceedings.
DCG, the parent company of the bankrupt lender, contended that Genesis's motives for selling the assets lacked merit.
Earlier reports suggested that the case was close to a conclusion.
The NBA is being sued for its marketing partnerships with the defunct crypto lender Voyager Digital.
The exchange recently disclosed severe liquidity issues in a regulatory filing and said it was uncertain whether it could continue operating.
Digital Currency Group claimed that some 'influential creditors controlling the UCC and Ad Hoc Group' pressured Genesis into its bankruptcy plan.
Genesis claims are trading for around 65 cents on the dollar as of January ending.
The decision was announced by FTX's attorney, Andy Dietderich, during its latest bankruptcy court hearing on Jan. 31.
