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At the time FTX filed for bankruptcy, the total amount of customer assets misappropriated was about $8.7 billion. A Delaware bankruptcy court has granted FTX’s administrators permission to sell the defunct exchange’s trust assets. The approval comes about four weeks after the administrators filed a motion requesting the sale of the
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Grayscale has updated the agreement to optimize its conversion into a spot Bitcoin (BTC) ETF. The corresponding document appeared on the website of the US Securities and Exchange Commission (SEC). The fund also wants to level the playing field when it comes to other suitors such as asset management giant BlackRock. The
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“Today, Grayscale has outlined proposed amendments to GBTC’s Trust Agreement that are intended to provide operational efficiencies that we believe are beneficial to both Grayscale and GBTC," a Grayscale spokeswoman said via email. "Importantly, this is in our normal course of business, and GBTC remains ready to uplist as a
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The discount on Grayscale’s Bitcoin Trust known as GBTC continued to shrink as of Nov. 27, likely due to mounting anticipation for a regulatory nod toward spot Bitcoin ETFs. GBTC’s discount to net asset value (NAV) gradually fell to 8%, seemingly fueled by industry hype surrounding a raft of spot Bitcoin
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The SEC website showed one memorandum with details of a discussion with BlackRock, and another one on a discussion with Grayscale. The US Securities and Exchange Commission (SEC) on Sunday revealed on its website one memorandum detailing discussions with financial giant BlackRock (NYSE: BLK), and another with crypto asset manager Grayscale
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Imagine building a company from a $15 million initial coin offering to an impressive $60 billion empire. That’s exactly what Changpeng “CZ” Zhao has done with Binance since he founded the crypto exchange in 2017 before resigning on Nov. 21 as part of a settlement with the United States Department
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“If this $2.7b exits completely the bitcoin space then such an outflow would of course put severe downward pressure on bitcoin prices,” the authors wrote. “If instead most of this $2.7b shift into other bitcoin instruments such as the newly created spot bitcoin ETFs post SEC approval, which is our
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Crypto asset manager Grayscale recently unveiled an updated version of its spot Bitcoin exchange-traded fund (ETF) following discussions with the US Securities and Exchange Commission (SEC). According to Bloomberg researcher James Seyffart, the updated documentation contains a plan to change GBTC’s ticker to BTC. After carefully reviewing the revised documentation, Seyffart
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Bloomberg Intelligence ETF research analyst James Seyffart reports that BlackRock and Grayscale, two major investment major companies with plans to issue a Bitcoin ETF, have recently met with the SEC. Based on slides that have become public knowledge, Seyffart shows that BlackRock likely prefers in-kind for their offering. In-kind vs. cash In highlighting
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