The whale who received the most compensation in the Genesis Trading liquidation has sold 40,000 ETH in the past two days

Odaily News According to Ember’s monitoring, the whale/institution that received the most ETH in the Genesis Trading liquidation compensation in August last year has sold 40,000 ETH through broker OTC in the past two days, with a value of approximately US$89.2 million.
In the past two days, he transferred 30,000 ETH to Galaxy Digital and 10,000 ETH to FalconX. Then he received 20 million USDC from Galaxy Digital and 19.49 million USDC from FalconX.
The ETH in this address came from the liquidation compensation of the bankrupt institution Genesis Trading in August last year. It received 114,500 ETH (US$358 million) in compensation, making it the address that received the most ETH at the time.
When he received the compensation last year, the ETH price was 3,128 USDT. Now the ETH price has fallen by 30% compared to that time. The value of the 114,500 ETH compensated has shrunk by 110 million US dollars.