{"id":29867,"date":"2024-09-25T20:00:17","date_gmt":"2024-09-25T17:00:17","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29867"},"modified":"2024-09-25T16:26:35","modified_gmt":"2024-09-25T13:26:35","slug":"genesis-wallet-transfers-360-million-in-eth","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/","title":{"rendered":"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings"},"content":{"rendered":"

Data from the digital asset tracking platform Arkham<\/strong> indicated a significant movement of 114,502 ETH<\/strong>, valued at nearly $360 millio<\/strong>n from a Genesis<\/strong> Trading wallet titled “Bankruptcy Distribution.” Though it highlighted the connection with a “lower confidence prediction,” Arkham suspected the receiving wallet might also belong to Genesis. Value around $13 million, this wallet just deposited 5,000 ETH to a deposit address linked to FalconX, a bitcoin broker serving institutional clients.<\/p>\n

Now carrying over $424.74 million in Ethereum, the wallet reflects a significant portion of Genesis’s ongoing asset management connected to bankruptcy. Liquidity issues caused Genesis, a branch of Digital Currency Group (DCG),<\/strong> to halt withdrawals in November 2022 after Three Arrow Capital collapsed. 2023 the lending platform filed for bankruptcy.<\/p>\n

Allegations now included losses more than $3 billion<\/strong>; the corporation has been caught in a lawsuit brought by New York Attorney General Letitia James, claiming Genesis, DCG, and Gemini of hiding $1.1 billion in losses and misleading investors.<\/p>\n

In May 2023 Genesis received court approval for a liquidation plan intended to reimburse creditors approximately $3 billion. Furthermore agreed to by the company was a $2 billion compensation. By August, it began providing creditors with assets and money worth $4 billion, so continuing its efforts to resolve the bankruptcy procedures.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our<\/span><\/i> Telegram,<\/span><\/i><\/a> YouTube<\/span><\/i><\/a>, and<\/span><\/i> Twitter<\/span><\/i><\/a> channels for the latest<\/span><\/i> news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Data from the digital asset tracking platform Arkham indicated a significant movement of 114,502 ETH, valued at nearly $360 million from a Genesis Trading wallet titled “Bankruptcy Distribution.” Though it highlighted the connection with a “lower confidence prediction,” Arkham suspected the receiving wallet might also belong to Genesis. Value around $13 million, this wallet just<\/p>\n","protected":false},"author":6,"featured_media":29868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[520,105,1106],"class_list":["post-29867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-arkham","tag-ethereum","tag-genesis"],"yoast_head":"\nGenesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Data from the digital asset tracking platform Arkham indicated a significant movement of 114,502 ETH, valued at nearly $360 million from a Genesis Trading wallet titled “Bankruptcy Distribution.” Though it highlighted the connection with a “lower confidence prediction,” Arkham suspected the receiving wallet might also belong to Genesis. Value around $13 million, this wallet just\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-25T17:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-25T13:26:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1193\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/\",\"name\":\"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp\",\"datePublished\":\"2024-09-25T17:00:17+00:00\",\"dateModified\":\"2024-09-25T13:26:35+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp\",\"width\":1193,\"height\":675},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/","og_locale":"en_US","og_type":"article","og_title":"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer","og_description":"Data from the digital asset tracking platform Arkham indicated a significant movement of 114,502 ETH, valued at nearly $360 million from a Genesis Trading wallet titled “Bankruptcy Distribution.” Though it highlighted the connection with a “lower confidence prediction,” Arkham suspected the receiving wallet might also belong to Genesis. Value around $13 million, this wallet just","og_url":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/","og_site_name":"Coin Engineer","article_published_time":"2024-09-25T17:00:17+00:00","article_modified_time":"2024-09-25T13:26:35+00:00","og_image":[{"width":1193,"height":675,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp","type":"image\/webp"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/","url":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/","name":"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp","datePublished":"2024-09-25T17:00:17+00:00","dateModified":"2024-09-25T13:26:35+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/09\/genesis-capital.webp","width":1193,"height":675},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/genesis-wallet-transfers-360-million-in-eth\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Genesis Wallet Transfers $360 Million in ETH Amid Bankruptcy Proceedings"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/29867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=29867"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/29867\/revisions"}],"predecessor-version":[{"id":29898,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/29867\/revisions\/29898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/29868"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=29867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=29867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=29867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}