{"id":15616,"date":"2024-07-13T06:35:16","date_gmt":"2024-07-13T06:35:16","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=15616"},"modified":"2024-07-13T06:35:16","modified_gmt":"2024-07-13T06:35:16","slug":"genesis-trading-and-german-government-in-bitcoin-selling","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/genesis-trading-and-german-government-in-bitcoin-selling\/","title":{"rendered":"Genesis Trading and German Government in Bitcoin Selling"},"content":{"rendered":"\n<p class=\"p2\">Reports have been swirling about the German government selling large amounts of Bitcoin recently, impacting the crypto market. Nevertheless, Genesis Trading has also emerged as a significant seller alongside the German government.<\/p>\n<h2 class=\"p2\"><span class=\"ez-toc-section\" id=\"Genesis_Tradings_2_Billion_Bitcoin_Sell-Off\"><\/span>Genesis Trading&#8217;s $2 Billion Bitcoin Sell-Off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p2\">Genesis Trading filed for Chapter 11 bankruptcy in New York in January 2023, and after a court order in May 2024, they have started returning funds to customers. The entity has begun selling some of its massive $2 billion Bitcoin stash, as revealed by on-chain data from Arkham Intelligence.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">are you serious<\/p>\n<p>Genesis is selling their $2 billion Bitcoin stash<\/p>\n<p>We&#8217;re not even done with the German sell-offs<a href=\"https:\/\/t.co\/GhW3uUjYjV\">pic.twitter.com\/GhW3uUjYjV<\/a><\/p>\n<p>\u2014 gumshoe (@0xGumshoe) <a href=\"https:\/\/twitter.com\/0xGumshoe\/status\/1811451969535639760?ref_src=twsrc%5Etfw\">July 11, 2024<\/a><\/p>\n<\/blockquote>\n<p class=\"p2\">Genesis Trading conducted six Bitcoin transactions in June, sending considerable amounts to the Coinbase exchange. The total value of Bitcoin offloaded was $466.65 million, contributing to the downward pressure on Bitcoin prices.<\/p>\n<h2 class=\"p2\"><span class=\"ez-toc-section\" id=\"German_Government_Depleting_Bitcoin_Reserves\"><\/span>German Government Depleting Bitcoin Reserves<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p2\">The German government, after seizing 50,000 BTC from Movie2k operators, has sold off over 40,000 BTC, leaving them with less than 5,000 BTC. This signals a potential end to the selling spree, offering relief to the market.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reports have been swirling about the German government selling large amounts of Bitcoin recently, impacting the crypto market. Nevertheless, Genesis Trading has also emerged as a significant seller alongside the German government. Genesis Trading&#8217;s $2 Billion Bitcoin Sell-Off Genesis Trading filed for Chapter 11 bankruptcy in New York in January 2023, and after a court [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15617,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Genesis Trading and German Government in Bitcoin Selling - Bitrabo","description":"Reports have been swirling about the German government selling large amounts of Bitcoin recently, impacting the crypto market. Nevertheless, Genesis Trading has"},"footnotes":""},"categories":[316],"tags":[448,6090,3926,5831,704,6089,499],"class_list":["post-15616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-entity","tag-german","tag-german-government","tag-government","tag-icymi","tag-selling"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=15616"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/15617"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=15616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=15616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=15616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}