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Genesis Trading moved over $1.5 billion worth of bitcoin (btc) and ethereum (eth) in the last hour, x.com/ArkhamIntel/status/1819375635539616132″ rel=”noopener nofollow noreferrer”>according According to a post by Arkham Intelligence, btc fell by 2.2% in the last hour, while eth registered a 2.5% correction in the same period. Transactions amounted to 16,600 btc and 166,300 eth, and are likely to initiate in-kind repayments to creditors.
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BREAKING: GENESIS MOVES $1.5 BILLION IN btc AND eth FOR PAYMENTS TO CREDITORS
Wallets linked to Genesis Trading have moved 16,600 btc ($1.1 billion) and 166,300 eth ($521.1 million) in the past hour, likely for in-kind payments to creditors.
bitcoin: bc1qmetf6pu6ghr6fv92209sw5x9t5999562t8wmux
eth:… photo.twitter.com/5Jtxqx8mxT
– Arkham (@ArkhamIntel) twitter.com/ArkhamIntel/status/1819375635539616132?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>August 2, 2024
Genesis was the leading institutional cryptocurrency lender behind the “earnings” programs of many companies, such as the Gemini exchange, and was part of the Digital Currency Group (DCG), which also has Grayscale under its umbrella.
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