Genesis cashed out right before the bankruptcy
Chainalysis investigators claim that a few hours before the announcement of bankruptcy, funds totaling about $155 million were withdrawn from the Genesis exchange: – 50,000 ETH to Coinbase – 20,000 ETH to Bitstamp – 5,000 ETH and 3.9 million USDT to Kraken – 7.7M FTM to Binance – 36 million USDT to an unknown wallet Some analysts speculate that this could be a partial repayment of Genesis’ debt to creditors. Of course, it is the case! That’s exactly what all bankrupts do before filing for bankruptcy.
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Chainalysis investigators claim that a few hours before the announcement of bankruptcy, funds totaling about $155 million were withdrawn from the Genesis exchange:
- 50,000 ETH to Coinbase
- 20,000 ETH to Bitstamp
- 5,000 ETH and 3.9 million USDT to Kraken
- 7.7M FTM to Binance
- 36 million USDT to an unknown wallet
Some analysts speculate that this could be a partial repayment of Genesis' debt to creditors.
Of course, it is the case! That's exactly what all bankrupts do before filing for bankruptcy.
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