Genesis Global Capital, Genesis Trading's credit business, filed for bankruptcy protection in the Foreign bankruptcy Court of the South District of New York City. During the bankruptcy period, Genesis Trading is actively transferring password property to another password trading center and wallet.
Blockchain security service platform PeckShieldAlert announced millions of password assets transferred by Genesis Trading in a tweet on Jan. 20.
Genesis Trading will use US $113.7 million 75K ETH and US $4 million USDT to transfer from over-the-counter units to cryptographic trading centers Coinbase, Bitstamp and Kraken. 50K ETH sold to Coinbase, 20,000 ETH sold to Bitstamp,5000 ETH and 4 million USDT sold to Kraken.
In addition, it also transfers 36 million USDC to the latest address 0x81b3. five hundred and forty three。 Dolphin alarm service platform also detected high ETH transfer.
Data encryption Twitter responded to the transfer made by Genesis Trading during the bankruptcy period of the credit business Genesis Global Capital. Some feel that the company is settling assets to lay the groundwork for repaying creditors' debts.
According to Nansen, Genesis's largest CEX transaction in the past 30 days included a net deposit of $51.9 million from USDC to Coinbase, a net withdrawal of $43.7 million from USDT from Kraken, a net withdrawal of $28.7 million from ETH, a net withdrawal of $19 million from OKX from USDT, and a net withdrawal of $10.8 million from USDT and $7m from USDC.
Because the head office Digital currency Group and founder Meher Sedabot were unable to negotiate with the debtor, several pundits were likely to predict the collapse of Genesis. The company also plans to raise $1 billion in emergency assets, but FTX's password infection has made it impossible for investors to invest in further projects.
Genesis Capital suspended withdrawals and redemptions for several types of credit products, including Gemini, a cryptographic trading center.
After Genesis filed for bankruptcy protection, Gemini founder Cameron Winklevoss indicated that he would continue to decide to adopt legal and regulatory actions against Digital currency Group, founder Meher Sedabert and others who recover customer assets.
The data encryption loan company has nearly $150 million of funds available for restructuring at this stage. According to court documents, assets and liabilities range from $1 billion to $10 billion, with more than 100,000 debtors.
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