Crypto lender Genesis seeks nod to dump $1.6B in GBTC, ETHE, ETCG

seekingalpha02-06

Bankrupt cryptocurrency lender Genesis recently filed a motion with the U.S. Bankruptcy Court in the Southern District of New York seeking approval to sell over $1.6B in trust assets. The assets held ...

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The assets held ...</p>\n\n<a href=\"https://seekingalpha.com/news/4062682-crypto-lender-genesis-seeks-nod-to-dump-16b-in-gbtc-ethe-etcg\">Source Link</a>\n\n</div>\n","source":"seekingalpha_hot_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Crypto lender Genesis seeks nod to dump $1.6B in GBTC, ETHE, ETCG</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCrypto lender Genesis seeks nod to dump $1.6B in GBTC, ETHE, ETCG\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-06 01:11 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4062682-crypto-lender-genesis-seeks-nod-to-dump-16b-in-gbtc-ethe-etcg><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bankrupt cryptocurrency lender Genesis recently filed a motion with the U.S. Bankruptcy Court in the Southern District of New York seeking approval to sell over $1.6B in trust assets. The assets held ...</p>\n\n<a href=\"https://seekingalpha.com/news/4062682-crypto-lender-genesis-seeks-nod-to-dump-16b-in-gbtc-ethe-etcg\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://seekingalpha.com/news/4062682-crypto-lender-genesis-seeks-nod-to-dump-16b-in-gbtc-ethe-etcg","article_id":"2409430881","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2409430881","pubTimestamp":1707153100,"sourceInfo":{"source_id":"seekingalpha_hot_news","name":"SeekingAlpha"},"weMediaInfo":null,"summary":"Grayscale Ethereum Classic Trust: A Hold Amid Changes In The Crypto World ETHE: With Bitcoin ETF Approval, Ethereum Spot ETFs May Be Next Grayscale outflows should be near their end - Needham FTX sells majority of its Grayscale Bitcoin Trust ETF shares in three days - report","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件","HODL":"VanEck Bitcoin Trust ETF","BTC":"ClearShares Piton Intermediate Fixed Income ETF","GBTC":"Grayscale Bitcoin Trust","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","DEFI":"Hashdex Bitcoin ETF","BK4595":"比特币概念","ETHE":"Grayscale Ethereum Trust (ETH)","BITB":"Bitwise Bitcoin ETF","FBTC":"Fidelity Wise Origin Bitcoin Fund","ARKB":"ARK 21Shares Bitcoin ETF","BITO":"ProShares Bitcoin Strategy ETF","BTCO":"Invesco Galaxy Bitcoin ETF","BTCW":"WisdomTree Bitcoin Fund","ETCG":"Grayscale Ethereum Classic Trust (ETC)","EZBC":"Franklin Bitcoin ETF","SAI":"SAI.TECH Global Corporation","BRRR":"Valkyrie Bitcoin Fund","IBIT":"iShares Bitcoin Trust"},"translate_title":"加密贷款机构Genesis寻求在GBTC、ETHE、ETCG抛售16亿美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTCW":1,"SAI":1,"IBIT":1,"HODL":1,"GBTC":1,"FBTC":1,"EZBC":1,"ETHE":1,"ETCG":1,"DEFI":1,"ARKB":1,"BTCO":1,"BTC":1,"BRRR":1,"BITO":1,"BITB":1},"content_text":"Bankrupt cryptocurrency lender Genesis recently filed a motion with the U.S. Bankruptcy Court in the Southern District of New York seeking approval to sell over $1.6B in trust assets. The assets held by Genesis include some $1.4B worth of Grayscale Bitcoin Trust (NYSEARCA:GBTC), ~$165M of Grayscale Ethereum Trust (OTCQX:ETHE) and ~$38M worth of Grayscale Ethereum Classic Trust (ETCG), according to the filing dated Friday. The sale, if approved, could result in selling pressure on cryptocurrency prices. Recall the price of bitcoin (BTC-USD) dropped after bankrupt crypto exchange FTX reportedly sold more than $1B worth of GBTC holdings. A portion of the GBTC shares had been transferred to crypto exchange Gemini as collateral as part of the Gemini Earn program, the filing showed. Genesis is seeking to claim an additional 31M GBTC shares that were pledged to its biggest creditor, Gemini, that were pledged to Gemini but never transferred. In November, Genesis filed a lawsuit against crypto exchange Gemini in an effort to recover over $689M that customers of both firms previously yanked.  More on Grayscale Ethereum Classic Trust (ETC), Grayscale Ethereum Trust, etc.  Grayscale Ethereum Classic Trust: Spiral Upgrade Concerns? Grayscale Ethereum Classic Trust: A Hold Amid Changes In The Crypto World ETHE: With Bitcoin ETF Approval, Ethereum Spot ETFs May Be Next Grayscale outflows should be near their end - Needham FTX sells majority of its Grayscale Bitcoin Trust ETF shares in three days - report","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2409430881"}