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With digital asset management firm Grayscale refusing to provide proof of reserves for its Grayscale Bitcoin Trust (GBTC), an independent analyst has spent days combing through the blockchain to independently verify its holdings.The OXT Research analyst, Ergo, used on-chain forensics to confirm that as of Nov. 23 that the GBTC
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Changpeng Zhao quickly deleted a tweet that called the companies' disclosures into question. Source
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On this week’s The Market Report show, Cryptox’s resident experts discuss what the ramifications would be if Grayscale Bitcoin Trust were to collapse.We start off this week’s show with the latest news in the markets:GBTC next BTC price black swan? — 5 things to know in Bitcoin this weekBitcoin (BTC),
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Summary: Grayscale’s digital asset product attention was backed up by Coinbase’s custodial division.However, the crypto exchange did not release the associated wallet addresses for each product.The crypto community wallet addresses of the Bitcoin trust and other products after Genesis disclosed FTX exposure. Coinbase Custody backed up a product breakdown published by Grayscale
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Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”In a Nov. 18 Twitter thread addressing investor concerns, Grayscale laid out information regarding the security and storage of its crypto
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The crypto market has seen extreme selling pressure over the past week, with Bitcoin recording a fresh yearly low below its current levels. The number one crypto by market cap is entangled in the collapse of crypto exchange FTX and its subsequent fallout. As of this writing, Bitcoin (BTC) trades at
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The FTX Contagion effects do not even stop at the largest institutional Bitcoin product on the market, the Grayscale Bitcoin Trust (GBTC). As a result of the bankruptcy of Sam Bankman-Fried’s crypto exchange, the discount to the NAV of Grayscale’s GBTC fund has fallen to around -40%. As recently as the
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Genesis Global Capital, the lending arm of crypto investment bank Genesis Global Trading, announced the suspension on Wednesday in response to "extreme market dislocation and loss of industry confidence caused by the FTX implosion," according to Amanda Cowie, vice president of communications and marketing at Digital Currency Group (DCG), the
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U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot
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Summary: The opening brief by Grayscale in a lawsuit against the U.S. Securities and Exchange Commission called the regulator’s decision “capricious” and “discriminatory”.Gary Gensler’s federal agency rejected the digital asset manager’s application to convert its $12 billion Bitcoin spot trust into a Bitcoin exchange-traded fund.The switch in fund structure could
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