Genesis Trading Transfers More Bitcoin To Coinbase, Can It Impact Bitcoin Recovery?

The post Genesis Trading Transfers More Bitcoin To Coinbase, Can It Impact Bitcoin Recovery? appeared first on Coinpedia Fintech News

Genesis Trading has transferred 600 BTC to Coinbase, valued at approximately $37.72 million. As a part of its ongoing bankruptcy liquidation procedures, Genesis Trading continues to liquidate substantial Bitcoin holdings. The latest move is part of a larger trend observed over the past month, during which Genesis Trading has moved more than 12,000 BTC to the popular cryptocurrency exchange. The company’s actions have raised concerns among investors about the potential impact on Bitcoin’s price recovery. Genesis Trading still holds significant cryptocurrency reserves, including 32,256 BTC and 113,604 ETH