The whale that received the most ETH in Genesis Trading’s liquidation compensation sold 40,000 ETH in the past two days

According to monitoring by @EmberCN, the whale/institution that received the most ETH from the Genesis Trading liquidation in August last year has recently sold 40,000 ETH (USD 89.2 million) through OTC. Of this, 30,000 ETH was transferred to Galaxy Digital in exchange for 20 million USDC, and 10,000 ETH was transferred to FalconX in exchange for 19.49 million USDC. The address received 114,500 ETH (USD 358.19 million) in compensation last August, when the average price of ETH was USD 3,128. The current price has dropped by more than 30%, resulting in a loss of USD 110 million in the value of the holdings.