Grayscale GBTC’s outflows linked to Genesis’ bankruptcy proceedings: Arkham Intelligence

Grayscale's Bitcoin Trust (GBTC) has faced a wave of sell-offs in recent weeks. According to Arkham Intelligence, this fire sale is likely connected to Genesis' bankruptcy proceedings, undertaken to settle obligations with victims of the Gemini Earn program.Arkham Intelligence noted that over the past three weeks, Genesis redeemed over 32,000 Bitcoin (BTC), which is estimated at approximately... source: https://cryptobriefing.com/genesis-bitcoin-liquidation-gbtc/