ANKR (ANKR) Price, Analysis, Predictions, and Calculator

According to CryptoMichNL, the approval of the FTX Bankruptcy Plan will lead to the distribution of billions of dollars to creditors. Although it remains uncertain how much of this capital will be used to purchase Bitcoin or Altcoins, it is expected that a significant portion will return to the market, enhancing liquidity.

According to Thomas Braziel, the bankruptcy plan for FTX has been confirmed with all objections overruled. Creditors are expected to receive a recovery in the range of 120-150% in dollarized terms. The primary remaining issue is related to the language used in the confirmation order.

According to @lookonchain, a potential victim reportedly lost 4,064 BTC (valued at $238.7 million) in a single transfer. Notably, 642.4 BTC ($37.73 million) of this amount was received from the Genesis Trading Bankruptcy Distributions wallet on August 2, and 2,173 BTC ($127.6 million) was received from Genesis Trading two years ago. This incident highlights the risks associated with large-scale Bitcoin transfers.

According to @0xScopescan, a new address has received 10,000 ETH (valued at $26 million) from the Genesis Trading Bankruptcy Distribution. The original bankruptcy address still retains 2,000 ETH (worth $5.5 million).

According to @lookonchain, Genesis Trading has transferred 32,256 BTC (worth $2.12 billion) and 256,775 ETH (worth $838 million) to multiple addresses over the past three days. This activity suggests that the firm may be undergoing bankruptcy proceedings to repay its debts. Additionally, Genesis Trading moved 13,291 BTC (worth $830.7 million) to Coinbase between June 12 and July 15.

According to @jayejone, Genesis Trading, a major crypto firm established in 2013, filed for bankruptcy in January 2023 following the collapse of FTX. Despite this, the firm still holds significant reserves of Bitcoin and Ethereum. Insights into Genesis Trading's strategic decisions are provided by @intotheblock.

According to @intotheblock, despite filing for bankruptcy in January 2023 following the collapse of FTX, Genesis Trading still holds substantial Bitcoin reserves. They currently possess 32,256.47 BTC, which is valued at approximately $2.15 billion. This information is crucial for traders monitoring the influence of large holders on the Bitcoin market.