The giant whale that won the most ETH in the Genesis Trading liquidation compensation has sold 40,000 ETH in the past 2 days
According to on-chain analyst Ember Monitoring, the whale/institution that lost the most ETH in the Genesis Trading liquidation compensation in August last year has sold 40,000 ETH (89.20 million USD) through broker OTC in the last 2 days.
He transferred 30,000 ETH to Galaxy Digital and 10,000 ETH to FalconX in the last 2 days. He then received 20 million USDC from Galaxy Digital and 19.9 million USDC from FalconX.
The ETH at this address originated from the liquidation payment of the bankruptcy agency Genesis Trading in August last year. 114,500 ETH ($358 million) was received, which was the address with the most ETH at that time. The ETH price was $3,128 when he received the compensation last year. Now the ETH price has fallen by 30% since then. The 114,500 ETH paid has lost $110 million.