Bankrupt Genesis seeks to sell over $1b worth of Bitcoin trust | Bitcoin | Ethereum | Altcoin
Bankrupt Genesis seeks to sell over $1b worth of Bitcoin trust shares
Genesis Global Capital has petitioned the U.S. Bankruptcy Court for the Southern District of New York for permission to conduct a massive sale of its assets. The company, a subsidiary of the embattled Genesis Global Holdco, is targeting the liquidation of approximately $1.4 billion worth of Grayscale Bitcoin Trust (GBTC) shares.According to a Feb. 2 court filing, Genesis and its debtor affiliates have declared that disposing of the shares is a critical step in maximizing estate value and efficiently managing its assets.
