Genesis Creditor Sells $31.43M in ETH After $358M Repayment 💰💥
The largest creditor from Genesis Trading's bankruptcy has sold 12,100 ETH ($31.43M) over three days after receiving a $358M repayment in August.
🏦 The sales, made via FalconX, follow the Genesis liquidation, which distributed $4B in crypto assets to creditors.
With Ethereum (ETH) trading in a tight range between $2,529 and $2,703, this sell-off could add pressure to the market. 📉
💸 Analysts are watching closely for further moves as the market remains vulnerable to more selling pressure from other creditors. 👀$BTC $ETH