Genesis’ Largest Transactions Before Bankruptcy Filing Revealed

Crypto, NFT, and DeFi insights platform, Nansen shared Genesis’ largest transactions in the last 30 days as the crypt lender files for bankruptcy. The original tweet first highlighted the “Funds Leaderboard” on which Genesis at $396,862,383, was second to Jump Trading with $2,863,197,559.

Genesis’ total balance, according to Nansen, stood at $397 million, including only ETH and ETH-20 assets “based on our wallet labels.” Following Genesis was Paradigm Capital, Sam Bankman-Fried’s Alameda Research, a16z crypto, and Dragonfly Capital at $312 million, $192 million, $110 million, and $88 million, respectively.

The last contenders on the Funds Leaderboard included Wintermute Trading, Polygon Foundation, Three Arrows Capital, and Defiance Capital demonstrating balances worth $85 million, $61 million, $44 million, and $39 million, respectively.

Nansen also shared a screenshot of Genesis’ largest CEX transactions in the past month, with $51.9 million USDC deposited to Coinbase, leading the chart. Next on the list were withdrawals from Kraken worth $43.7 million USDT, followed by $28.7 million ETH in deposits to Bitstamp.

Moreover, $28.7M ETH was deposited to Bitstamp, alongside, $19M USDT net withdrawals from OKX and $10.8M USDT and $7M USDC worth of withdrawals from leading crypto exchange Binance.

Today, crypto lender Genesis Global Holdco LLC announced bankruptcy in the aftermath of FTX’s industry-shaking collapse. Its subsidiaries including Genesis Global Capital LLC, as well as, Genesis Asia Pacific Pte, filed for Chapter 11 protection in the Southern District of New York, listing $1 billion to $10 billion for assets and liabilities.