Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

Genesis Transfers Ethereum, USDT, USDC Worth Millions Amid Bankruptcy

Genesis Trading’s lending business Genesis Global Capital filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. Amid the bankruptcy filing, Genesis Trading is actively transferring crypto assets to other crypto exchanges and wallets.

Blockchain security platform PeckShieldAlert in a tweet on January 20 disclosed several millions of crypto assets transferred by Genesis Trading.

Genesis Trading transferred 75k Ethereum (ETH) worth $113.7 million and 4 million USDT from its OTC Desk to crypto exchanges Coinbase, Bitstamp, and Kraken. 50k ETH was transferred to Coinbase, 20k ETH to Bitstamp, and 5k ETH and 4 million USDT to Kraken.

(By Varinder Singh)

Tether USDt Tether USDt $1.00
+0.02%
bankruptcy USDT
Comments

All Comments

Recommended for you

  • Trump team files complaint over Harris inheriting $96 million in Biden campaign funds

    According to reports from foreign media, the Trump campaign team has filed a complaint with the Federal Election Commission, claiming that Biden's transfer of $96 million in campaign funds to Harris is illegal. David Warrington, a lawyer for the Trump campaign team, said that this was a "shameless money-grabbing act" and would constitute the largest excessive donation and most serious violation in the history of the Federal Election Law. Shortly after Biden withdrew from the election and appointed Harris as his preferred successor, she took over Biden's campaign committee's bank account. Steve Roberts, a lawyer who represented Republican candidates, said that the argument against the transfer was a "wishful thinking" of his Republican colleagues. The Harris campaign team said that this complaint would not affect its fundraising or spending.

  • Donald Trump Plans to Release Fourth NFT Collection, Embraces Crypto Industry

    Former US President Donald Trump is reportedly planning to release a fourth NFT collection, as he continues to embrace the crypto industry. In a recent interview with Bloomberg Businessweek, Trump stated that his previous NFT collections were "very successful" and sold out in a day. He also revealed that he plans to release another collection, as his supporters are demanding it. Trump's campaign has also started accepting crypto donations, and he has been vocal about the importance of the US not falling behind China in the crypto industry.
  • cointelegraph ·

    Crypto remittances in Venezuela surge as economic situation worsens

    Sanctions from the United States, spiraling inflation and government corruption have created an economic nightmare for Venezuelans.
    Crypto remittances in Venezuela surge as economic situation worsens

  • Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate

    Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022.
  • cointelegraph ·

    US banking lobby last-minute bid to stop Biden vetoing SAB 121 overturn

    The American Bankers Association claims that United States President Joe Biden's move will "harm investors, customers, and ultimately the financial system."
    US banking lobby last-minute bid to stop Biden vetoing SAB 121 overturn

  • Cointime May 25 News Express

    1. British media: 61,000 Bitcoins in Qian Zhimin case may belong to British police and Home Office

  • Cointime's Evening Highlights for May 19th

    1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week

  • Cointime May 4th News Express

    1. Hong Kong Bitcoin Spot ETF has held 4,218 BTC since its listing three days ago

  • USDT issuance on TON chain reaches $100 million

    According to official data, the issuance and circulation of USDT on the TON chain has reached 100 million US dollars, making TON the fastest-growing blockchain for Tether USDT issuance in Web3 history.

  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company