Genesis Trading, a major player in the crypto market, is making waves as it navigates bankruptcy proceedings.

The company recently transferred 600 Bitcoin ( $BTC BTC ), valued at roughly $37.72 million, to Coinbase. This move is part of a larger trend observed over the past month, with Genesis Trading shifting over 12,000 BTC to the popular exchange. Despite these transfers, Arkham monitoring reveals that Genesis Trading still holds a substantial crypto portfolio, including 32,256 BTC and 113,604 ETH, valued at approximately $2.43 billion. These developments are closely watched by the crypto community as they could potentially impact the market.