With plans to liquidate and repay in cash or #crypto, #Genesis settles with the SEC and NY Attorney General, ensuring customer prioritization. A court hearing on Feb 26 will decide on the bankruptcy plan approval.

Genesis aims to liquidate 35 million Bitcoin Trust shares ($1.38B) and Ethereum Trust shares ($207M) to cover customer repayments and avoid $1.9M monthly fees. Objections from parent company DCG were overruled.

Spot Bitcoin ETFs saw high inflows, reaching over $3B last week. Despite a market dip, the demand for Bitcoin remains strong, with total crypto assets at a high since 2022.

Glassnode data suggests a market shift. Over 300K BTC were sold by long-term holders since Nov 2023, as profit-taking begins with Bitcoin struggling to stay above $50K.