Genesis Seeks Court Approval to Sell $1.4 Billion in Grayscale Bitcoin Trust Stocks

According to Foresight News, cryptocurrency lending institution Genesis has filed a motion with the U.S. Bankruptcy Court for the Southern District of New York, requesting the judge to approve the sale of certain trust assets. These assets include nearly $1.4 billion in Grayscale Bitcoin Trust (GBTC) stocks, approximately $165 million in Grayscale Ethereum Trust (ETHE) stocks, and around $38 million in Grayscale Ethereum Classic Trust (ETCG) stocks. In addition, Genesis has submitted a separate motion requesting a shortened deadline to hear the sale motion at the next bankruptcy court hearing on February 8th.