According to Foresight News, Solid Intel reported that the Genesis wallet transferred about 14,000 BTC (US$900 million) and 156,000 ETH (US$480 million) through the transit address in nearly an hour, and it is suspected that it is executing bankruptcy liquidation procedures. According to Arkham data, the Genesis Trading address currently holds about $14 million in crypto assets, including only 229 ETH (worth $720,000) and about $10 million worth of BTC.

Foresight News previously reported that the bankrupt crypto lending company Genesis obtained court approval in May this year to repay billions of dollars in digital assets and cash to its creditors.