Genesis Trading Wallets Halted, Holding Over $280 Million

Genesis Trading appears to have halted all on-chain wallet trading on January 20 after presentation Filed for Chapter 11 Bankruptcy in the Southern District of New York

The wallets hold more than $280 million in cryptocurrencies: 144,847 in Ethereum (ETH) worth $220 million, at press time.

Current wallet holdings

Genesis Trading’s remaining top nine cryptocurrency holdings include Compound (COMP.), the sandbox (SAND), Apecoin (BUN), Decentraland (MANNA), Aave (AAVE), DAO curve (CRV), Dollar Pax (USDP), the graph (GRT), Basic care sheet (BAT) and Uniswap (UNI).

Genesis Trading Portfolio Holdings - (Source: Arkham Intelligence) — Genesis Trading Portfolio Holdings – (Source: Arkham Intelligence)

Flooded with fake chips

Transactions were made four hours ago on the Genesis Trading wallets, but they were only entries of fake ‘GENESIS’ tokens that flooded.

Genesis Trading wallet transactions - (Source: Arkham Intelligence) — Genesis Trading wallet transactions – (Source: Arkham Intelligence)

The last transaction originating from Genesis Trading was 12 hours ago at press time, a distinct change from the usual multi-transaction per hour behavior pattern of wallets.

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Josh has been writing for a decade and is passionate about mainstream crypto adoption, bringing positive financial change to the masses through crypto and decentralized finance as a whole.

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