Genesis Trading Wallet Transfers $720 Million in Bitcoin to Coinbase Amid Settlement and Asset Liquidation Speculations

A cryptocurrency wallet linked to Genesis Trading has transferred nearly $720 million worth of Bitcoin to Coinbase over the past month, indicating possible asset liquidations. The wallet, associated with Genesis Trading, moved over 12,600 Bitcoin, valued at around $719.9 million, in the last 30 days. These transfers mostly ranged from 500 to 700 BTC each. According to Arkham Intelligence, the wallet’s Bitcoin balance has decreased from over 46,000 BTC a month ago to 33,356 BTC as of now. These significant transfers occurred two months after Letitia James, the attorney general of New York, announced a settlement with Genesis. The agreement

Source: CryptoIntelligence