Genesis Trading prepares to return $3B to customers, transfers 32,256 BTC
Genesis transferred $2.12B in BTC and $838M in ETH as part of bankruptcy restructuring. Genesis will return $3B to creditors, covering 77% of customer claims. Digital Currency Group will not receive any payout from Genesis’s bankruptcy plan. Over the past three days, Genesis Trading has moved approximately 32,256 BTC, valued at around $2.12 billion, and 256,775 ETH, worth about $838 million, to various addresses. This substantial transfer of assets is seen as part of the company’s efforts to manage creditor repayments under its ongoing financial restructuring plan. Genesis Trading has transfer red 32,256 $BTC($2.12B) and 256,775 $ETH($838M) to multiple addresses in the past 3 days and may be undergoing bankruptcy proceedings to repay debts. And #GenesisTrading transfer red 13,291 $BTC($830.7M) to #Coinbase between Jun 12 and Jul 15, during… pic.twitter.com/EpLdn5PUJn — Lookonchain (@lookonchain) August 2, 2024 Genesis Trading s...