LIVEMoizoo
@moizoo07
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According to BlockBeats, Genesis, a bankrupt cryptocurrency lending institution, has purchased 32,041 Bitcoins, valued at approximately $2.17 billion, to repay its customers. This move comes after the sale of its shares in Grayscale Bitcoin Trust (GBTC). The process of selling the GBTC shares was completed on April 2nd.
Genesis, which had been facing bankruptcy, used the proceeds from the sale of its GBTC shares to acquire the Bitcoins. The acquired Bitcoins will be used to settle the debts owed to its customers. This strategic move is seen as an effort by Genesis to regain the trust of its customers and stakeholders by ensuring they are repaid.
The acquisition of such a large number of Bitcoins is significant, highlighting the potential value and demand for the cryptocurrency. It also underscores the commitment of Genesis to fulfill its obligations to its customers despite its financial challenges. The completion of the GBTC shares sale and the subsequent acquisition of Bitcoins marks a crucial step in Genesis's recovery process.
Genesis, which had been facing bankruptcy, used the proceeds from the sale of its GBTC shares to acquire the Bitcoins. The acquired Bitcoins will be used to settle the debts owed to its customers. This strategic move is seen as an effort by Genesis to regain the trust of its customers and stakeholders by ensuring they are repaid.
The acquisition of such a large number of Bitcoins is significant, highlighting the potential value and demand for the cryptocurrency. It also underscores the commitment of Genesis to fulfill its obligations to its customers despite its financial challenges. The completion of the GBTC shares sale and the subsequent acquisition of Bitcoins marks a crucial step in Genesis's recovery process.
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BinanceTurns7
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#BinanceTurns7 Come celebrate 7 years of Binance with us to unlock digital badges and win some exclusive 7YA swag!
Task 1: Share Your Binance Birthday Wishes to Unlock the Basic 7YA Digital Badge
- Complete the setup of your Binance Square profile (e.g., username, profile, biography) and follow this account @Binance_Square_Official during the Activity Period.
- Comment on this Binance Square official post with your Binance birthday wishes, and ensure that your post includes the #BinanceTurns7 hashtag to unlock the basic 7YA digital badge.
Task 2: Post Your Favorite Binance Memories to Unlock the Upgraded 7YA Digital Badge & Binance 7YA Merch
- Users who successfully complete Task 1 may receive an upgraded version of the 7YA Digital Badge by sharing their fondest memories with Binance in a new Binance Square post that mentions the #BinanceTurns7 hashtag during the Activity Period.
- On top of that, the top seven participants with the highest total number of engagements (i.e., likes, shares, comments, quotes) for a qualified post in Task 2 during the Activity Period, will each receive one set of Binance 7YA merch.
Terms and conditions:
- 7YA digital badges will appear next to the profiles of qualified participants within four working days after the promotion ends.
- Winners of 7YA merch will be notified via a push notification under Creator Center > Square Assistant, within four weeks after the promotion ends.
- Users should complete the required instructions within the timeframe stipulated in the push notification to successfully receive merch rewards. Please note that winners should provide a valid shipping address, and will be responsible for any taxes, if applicable.
- No refunds or cash equivalent value of the rewards will be granted.
Activity Period: 2024-07-05 12:00 (UTC) to 2024-07-10 11:59 (UTC)
Binance Square Official
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MarketDownturn
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