🚀 Genesis Trading Moves $720 Million Bitcoin to Coinbase, Signaling Asset Liquidation

A wallet associated with Genesis Trading has transferred nearly $720 million worth of Bitcoin to Coinbase in the past month. This suggests they may be liquidating assets. The wallet, named Genesis Trading, moved over 12,600 Bitcoin, valued at about $719.9 million, in transactions ranging from 500 to 700 BTC. Currently, the wallet holds 33,356 Bitcoin, down from over 46,000 BTC a month ago. This large transfer follows a $2 billion settlement where Genesis had to compensate defrauded investors. The wallet, holding a total of $2.28 billion in cryptocurrencies, seems poised to repay users based on recent Coinbase transfers. The New York Attorney General's office is actively involved in recovering funds from crypto platforms involved in fraud.

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