Genesis Trading Moved 40,000 ETH To Two Addresses, Signals Asset Liquidations

Quick Summary:

Genesis Trading, currently navigating bankruptcy proceedings, has moved 40,000 ETH, $126.8 million, to two separate wallets, signaling possible bankruptcy liquidations.

The lawsuit was against Genesis, the Digital Currency Group, its CEO Barry Silbert, and former Genesis CEO Soichiro Moro.

As a result, the NY Attorney General also noted that it plans to increase oversight and regulation of the digital assets industry which has secured more than $2.5 billion from predatory crypto platforms to date.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: India

Topics: News 40000 ETH Asset Liquidations Moved Signals Latest News Genesis Trading Two Addresses

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 20:29:58 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21900929

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

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News Last Updated: 12 hours ago

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