Genesis sold $2.1B GBTC shares to buy 32,041 bitcoins for Gemini Earn creditors' repayment.
Genesis, the crypto lending firm in bankruptcy, sold $2.1B worth of Grayscale Bitcoin Trust (GBTC) shares, purchasing 32,041 bitcoins with the proceeds to repay creditors. The firm liquidated 36 million GBTC shares on April 2, with the bitcoin acquisition at today's price worth nearly $2.2B. Genesis plans to distribute these tokens to Gemini Earn creditors.
April 05, 2024
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