The New York City-based crypto firm has returned 14.212 Ether, worth about US$46,000, as well as US$108,896 in cash to Toronto-based Realbotix as part of its restructuring process. Genesis still holds about US$2.4 million worth of Ether and Solana in custody that belong to Realbotix, about a quarter of the value of its US$10.6 million crypto treasury as of June 30. (The Logic)
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The New York City-based crypto firm has returned 14.212 Ether, worth about US$46,000, as well as US$108,896 in cash to Toronto-based Realbotix as part of its restructuring process. Genesis still holds about US$2.4 million worth of Ether and Solana in custody that belong to Realbotix, about a quarter of the value of its US$10.6 million crypto treasury as of June 30. (The Logic)
Talking point: The recovered funds will help Realbotix fund its new venture—developing AI-powered humanoid robots that piggyback on technology created by Las Vegas-based sex doll-maker Simulacra, which it acquired in April. Realbotix aims to sell all its crypto in the next 12 months, a filing from August shows, as it transitions its business model away from digital assets and metaverse real estate, after suffering significant losses in the crash of 2022.
Correction: Realbotix no longer has any debt outstanding with Genesis. This briefing has been updated.
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