{"id":137845,"date":"2024-09-25T10:00:54","date_gmt":"2024-09-25T07:00:54","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137845"},"modified":"2024-09-25T01:36:49","modified_gmt":"2024-09-24T22:36:49","slug":"genesis-moves-360m-in-ethereum-amid-bankruptcy-process","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/genesis-moves-360m-in-ethereum-amid-bankruptcy-process\/","title":{"rendered":"Genesis Moves $360M in Ethereum Amid Bankruptcy Process"},"content":{"rendered":"

Data<\/a><\/strong> from Arkham, a digital asset tracking platform, revealed that a wallet gathered 114,503 ETH, valued at nearly $360 million, from a Genesis Trading wallet labeled \u201cBankruptcy Distribution.\u201d<\/p>\n

Arkham suggests the receiving wallet might also belong to Genesis, though it tagged it with a \u201clower confidence prediction.\u201d Recently, this address transferred 5,000 ETH, worth close to $13 million, to a deposit address associated with FalconX, an institutional crypto brokerage.<\/p>\n

The wallet currently holds around $424.74 million in Ethereum<\/a><\/strong>.<\/p>\n

Genesis, a subsidiary of Barry Silbert\u2019s Digital Currency Group (DCG), paused withdrawals in November 2022 after the collapse of Three Arrows Capital impacted its liquidity. The lender subsequently filed for bankruptcy in 2023.<\/p>\n