Grayscale Bitcoin Trust investors unsatisfied with the status quo will meet at Bitcoin 2023 in an effort to address issues they see in the Trust....
Bankrupt crypto trading firm Alameda Research has filed a lawsuit against Grayscale Investments, the company behind the world’s largest Bitcoin fund. In an announcement on Monday, FTX’s debtors disclosed that the exchange’s sister- company Alameda was suing Grayscale, seeking injunctive relief for FTX’s creditors to realize more than $250 million in ... The post Alameda Sues Grayscale Over ‘Improper Redemption Ban’ appeared first on...
Grayscale's lawsuit against the U.S. Securities and Exchange Commission (SEC) for the denial of GBTC conversion to spot Bitcoin ETF picks pace as...
Grayscale Bitcoin Trust (GBTC) is trading at a discount of 47.35% to the underlying assets' net asset value (NAV) as of Feb. 15 — a record low for the current year. GBTC shares are trading for $10.85 after increasing by 4.43% in the last 24 hours, according to ycharts data. Earlier in the year, the discount had...
After a long back-and-forth, the Genesis and DCG drama appears to be coming to a relatively smooth end after Genesis reached an agreement with DCG and other creditors yesterday - but a price crash could be looming as DCG is forced to sell shares in its Grayscale Bitcoin (GBTC) and Ethereum (ETHE) Trusts. As the Financial Times reports today,...
In June 2022, Grayscale sued the Securities and Exchange Commission (SEC) after the regulator had once more declined to convert the Grayscale Bitcoin Trust (GBTC) to a spot ETF. The case is expected to drag on into the second half of 2023 but Grayscale has come forward to reveal its plans if the court were to side with the SEC. Still Not Backing...
The insolvency of Genesis Trading and the related uncertainty about the future of Digital Currency Group (DCG) and Grayscale have not really dampened the mood on the Bitcoin market in recent weeks. Genesis' bankruptcy filing, which was announced last Thursday, seems to have already been priced in by investors. Nevertheless, the risk of a...
An interesting saga is developing for Digital Currency Group and its Grayscale Bitcoin Trust with accusations of fraud coming from the co-founder of Gemini.The below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox,...
Valkyrie Investments has laid out a proposal to become the new sponsor and manager of Grayscale’s troubled bitcoin trust (GBTC) and fix its large discount.Valkyrie Investments has laid out a proposal to take up the reins of troubled bitcoin trust GBTC."We understand that Grayscale has played an important role in the development and growth of the bitcoin ecosystem with the launch...
Several crypto-related stocks have seen their values plunge to new record lows despite Bitcoin's (BTC) value gaining upward momentum over the past 30 days. GBTC discount rises to above 50% Grayscale's Bitcoin Trust (GBTC) traded at a record discount rate of 50% on Dec. 13 following the US SEC's defense of its refusal to approve the conversion of the trust into...
While there are still no details on a possible rescue of Genesis Trading, there is at least apparently some positive news regarding Grayscale Bitcoin Trust (GBTC). Ryan Selkis, co-founder of Messari stated on Tuesday that it appears Genesis has "days, not weeks" to reach an agreement with creditors to avoid...
After Genesis Trading's lending arm shut down its services last week, the rumor mill started buzzing about a possible bankruptcy of Digital Currency Group (DCG). Especially hot are the rumors that Grayscale and its Bitcoin Trust (GBTC) and the Ethereum Trust (ETHE) could be caught up in insolvency. The crypto community is all the more...
The Grayscale Bitcoin Fund (GBTC) remains the largest legal bitcoin fund in the world with hundreds of thousands of BTC in holdings. However, given recent developments, the value of the fund has taken a massive hit. GBTC had been trading for a high premium for most of the year, but with the issues rocking Genesis Trading, which shares the same parent company with...
Grayscale Bitcoin Trust (GBTC) shares are selling at a record discount of 42.69% to the underlying asset's value following FTX's implosion and fears of market contagion. According to Ycharts data, GBTC shares are trading for $8.75 as of press time, which represents a 74% decline on the year-to-date metric and an 84% drop since Bitcoin peaked at over $69,000 in 2021. For...
Dylan LeClair and Mark Moss break down the FTX implosion, the current GBTC discount and how the global macro environment will affect the bitcoin price.This is a recording of a recent Twitter Spaces with the Bitcoin Magazine Pro team and Mark Moss to break down the FTX implosion and how it relates to the global macro environment.Listen To This Twitter Spaces:...
On Wednesday, the GBTC recorded its largest discount ever – 41% – which represented a price per share of $8.76 at the close of markets. Price began to sag and, as of this writing, had dropped 21% in five days. The Grayscale Bitcoin Trust, the largest institutional Bitcoin fund in the world, is one of […] The post Grayscale Bitcoin Trust Reports 41%...
The Grayscale Bitcoin Trust (GBTC) has made a name for itself in the public markets as not only the first-ever publicly traded trust underlined by a cryptocurrency, but it is also the largest bitcoin trust in the world. However, Grayscale has not had an easy go of it in the last as it had been trading at a discount. This discount has continued...
Crypto lenders in the market have been severely struggling to handle liquidity challenges. On Tuesday, July 12, crypto lender BlockFi announced that it will no longer be accepting Grayscale's GBTC shares as collateral. Following the news, the GBTC stock (OTCMKTS: GBTC) collapsed 5% on Tuesday ending at $12.21. Amid the Bitcoin price correction, the GBTC...
On Thursday, the US Securities and Exchange Commission (SEC) announced it rejected Grayscale’s Bitcoin exchange traded fund (ETF) application over concerns of potential price manipulation and the lack of investors’ protection.
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