The bankrupt cryptocurrency lender Genesis Global Capital filed for bankruptcy protection in January 2023 and has not stopped trying to pay its debtors. In an attempt to carry out its repayment plan, Genesis is said to have sold off all of its Grayscale GBTC holdings to get a substantial amount of Bitcoin (BTC).
In other news, InQubeta (QUBE) has emerged as Render’s (RNDR) alternative in the AI (artificial intelligence) space, intensifying the competition for market dominance amid the prevailing frenzy.
AI enthusiasts and investors have been excited about InQubeta, an emerging crypto, creating a frenzy within its ecosystem. Unlike other cryptocurrencies, it has experienced heightened activity due to a surge in interest. InQubeta is one of the best altcoins with the potential for significant returns. Its presale has recorded the sale of over 966 million tokens.
This article explores the unique features that make InQubeta an alternative to Render amid the major addition of Bitcoin to the Genesis portfolio.
InQubeta (QUBE): Surging Ahead WIth Growth And Unique Features
InQubeta stands out among the numerous popular cryptocurrencies with its positive outlook and growth. Its steady rise poses a challenge to established players like Render. With a stunning 300% increase, QUBE confirms its status as one of the best altcoins to add to your portfolios for hefty profits. InQubeta offers investors a great chance to profit handsomely in 2024 with little income, having raised over $13.5 million during the presale, and currently sells at a discounted price of $0.028.
AI has been expanding rapidly since the start of 2023, moving from machine learning to cryptocurrency investing solutions. Taking advantage of this trend, InQubeta offers institutional and retail investors exponential gains. InQubeta provides the best cryptocurrency investment for investors looking to expand their portfolios by fusing AI innovation with popular NFTs (non-fungible tokens). According to its roadmap, InQubeta offers these NFTs to investors by collaborating with carefully selected AI startups.
These popular NFTs are great for retail traders to invest in because they are fractionalized and equity-based. Investors in InQubeta will benefit as artificial intelligence becomes more widely used in various industries. The AI industry is predicted to generate over a trillion dollars in revenue in less than ten years, so InQubeta is an investment for hefty profits. An asset class formerly exclusively available to investors with huge liquidity is made more accessible by QUBE.
Bitcoin (BTC): Genesis Buys Over 32,000 Bitcoin After Selling Its GBTC Shares
As part of its efforts to pay off creditors, bankrupt cryptocurrency lender Genesis has exchanged roughly 36 million Grayscale Bitcoin Trust (GBTC) shares for Bitcoin. A recent Bloomberg report states that the corporation liquidated its shares of GBTC on April 2 at a price of about $58.50 per share. The share price of GBTC has experienced a notable 50% increase since Genesis first requested authorization to sell the shares from the U.S. bankruptcy court. Genesis started selling the GBTC shares on February 2 for $38.50. Genesis purchased 32,041 Bitcoin on April 14 at a price of $65,685 per BTC, with the sale amounting to a total of $2.1 billion. Genesis will utilize these newly acquired Bitcoins to pay its debts to creditors.
These most recent transactions comply with Genesis’s bankruptcy plan, which permits the conversion of GBTC shares into straight cash or BTC to pay off the company’s current debt. The cryptocurrency lender owes creditors $3.5 billion, and repayment will begin soon after the court approves.
Render (RNDR): Decentralized GPU Rendering for Creators and GPU Owners
The Render Network links people offering idle GPUs (graphics processing units) and artists needing powerful graphics processing. Through RNDR tokens, this decentralized platform allows for seamless transactions, allowing artists to employ distributed rendering capabilities effectively. In the crypto economy, Render has made a reputation for itself by demonstrating growth and resilience in the face of market turbulence. RNDR has surged by 664% in the last year, presenting exceptional consistency. Despite a recent decline, Render’s trajectory highlights its increasing appeal and investment potential. Render’s strong market cap and trading volume continue to attract attention at its current valuation. Experts continue to be optimistic, pointing to RNDR’s growing upward trend.
Conclusion
Genesis’s bankruptcy is mostly related to the abrupt demise of the now-defunct cryptocurrency exchange FTX. Its acquisition of Bitcoin underscores the company’s effort to offset its debts. As of now, InQubeta’s presale has been outstanding, and if it keeps on at this pace, it might become one of the most sought-after DeFi tokens globally. Many investors have been eager to join the platform since it has already made profits for early backers. This has made it a notable alternative to Render. Get as many QUBE tokens as you can while it still sells at a discount.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
