Genesis Trading transferred 5,932 ETH to GSR this morning, equivalent to about $15 million

BlockBeats news, on August 7, according to @ai_9684xtpa monitoring, Genesis Trading's bankruptcy liquidation is still continuing. Eight hours ago, GSR Markets received 5,932 ETH transferred from the Genesis Trading Bankruptcy Distributions address, worth $15.05 million, and all of them have been recharged to Binance.

During 08.02-08.03, the Genesis Trading bankruptcy liquidation address has transferred BTC and ETH worth more than $2.11 billion to major trading platforms/entities/transfer addresses.

Affected by the collapse of FTX, Genesis declared bankruptcy in January this year. According to the liquidation plan approved by the court, 77% of customer assets worth $3 billion will be returned. However, the specific form of return is not clearly stated, whether it is in stablecoins or BTC/ETH, so whether its bankruptcy liquidation procedure will cause selling pressure on the market remains unknown.