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Learning & News => News related to Crypto => Topic started by: sirty143 on February 15, 2024, 05:25:57 AM

Title: Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC Shares
Post by: sirty143 on February 15, 2024, 05:25:57 AM

Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC Shares

Genesis Global Capital has received authorization to offload its stake in Grayscale’s Bitcoin Trust (GBTC), valued at approximately $1.3 billion. See more for yourself here (https://news.bitcoin.com/report-genesis-global-cleared-to-unload-1-3-billion-in-gbtc-shares/).

Your opinion is greatly appreciated.

Title: Re: Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC Shares
Post by: Z-tight on February 15, 2024, 10:52:56 PM

Crypto lender Genesis is probably liquidating their funds in GBTC shares in order to raise money towards refunding their customers, as many of us already know the crypto lender filed for bankruptcy early last year and the process of refunding their customers is still going through the necessary legal process. Take note that this will not really have any impact on the price of BTC and as for Genesis' creditors, i hope some of them get a portion of their money back soon.