PANews reported on March 5 that according to monitoring by on-chain analyst Yu Jin, the whale/institution that received the most ETH in the Genesis Trading liquidation compensation in August last year has sold 40,000 ETH (US$89.2 million) through broker OTC in the past two days.

In the past two days, he transferred 30,000 ETH to Galaxy Digital and 10,000 ETH to FalconX. He then received 20 million USDC from Galaxy Digital and 19.49 million USDC from FalconX.

The ETH in this address comes from the liquidation compensation of the bankrupt institution Genesis Trading in August last year. The compensation received was 114,500 ETH (US$358 million), which was the address that received the most ETH at that time. When he received the compensation last year, the ETH price was US$3,128. Now the ETH price has fallen by 30% from that time. The value of the 114,500 ETH compensated has shrunk by US$110 million.