Genesis Seeks Court Approval to Offload $1.4 Billion in GBTC Assets Post-SEC Set

[sirty143]

Genesis Seeks Court Approval to Offload $1.4 Billion in GBTC Assets Post-SEC Settlement

After reaching an agreement with the U.S. Securities and Exchange Commission (SEC), the bankrupt company Genesis Global Capital has submitted a petition to the bankruptcy court to dispose of holdings from Grayscale’s Bitcoin Trust... See more for yourself here.

Your opinion is greatly appreciated.

[Husires]

Their request needs to wait for Grayscale's approval which, if it happens, may reduce the risk of exchange rate fluctuations. Considering the outflows from Grayscale over the past three weeks amounting to 617,079.99 BTC to 478,337.43 BTC, $1.4 Billion will not put much pressure on the price.