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Genesis wallet transfers approximately 14,000 BTC and 156,000 ETH, possibly for bankruptcy liquidation

2024.08.02 - 13:56

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TechFlow reports that on August 2, according to Solid Intel monitoring, a Genesis wallet transferred approximately 14,000 BTC (around $900 million) and 156,000 ETH (about $480 million) through intermediary addresses within the past hour, potentially indicating execution of bankruptcy liquidation procedures.

Previous report: In May this year, cryptocurrency lending firm Genesis received court approval to repay billions of dollars in digital assets and cash to its creditors.

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