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[ARKHAM] Genesis Trading Transfers 600 #BTC to #Coinbase Amid Suspected Bankruptcy Liquidation https://t.co/RYzEIFRQGL
🚨BREAKING: GENESIS SENDS 600 BTC TO COINBASE - STILL HOLDS $2.43B WORTH OF CRYPTO
Genesis Trading transferred 600 BTC to Coinbase at 21:49 UTC+8 today, worth about $37.72 million. Genesis Trading has transferred more than 12,000 BTC to Coinbase in the past month, and is suspected of executing bankruptcy liquidation procedures. Genesis Trading currently holds…
Genesis Trading has initiated significant asset liquidations as part of its bankruptcy reorganization. The cryptocurrency firm has transferred a total of 12,000 BTC, valued at approximately $720 million, to Coinbase over the past month. The transfers, which began on June 12, 2024, have increased in frequency, occurring weekly and recently on a daily basis. On July 15, 2024, Genesis Trading sent an additional 600 BTC to Coinbase at 21:49 UTC+8, worth about $37.72 million. Despite these transfers, Genesis Trading still holds $2.43 billion worth of cryptocurrency assets. The activity was reported by ARKHAM.