CLAUDE
Genesis Global Capital Moves to Liquidate $1.6 Billion in Grayscale Trusts Amid Bankruptcy
Genesis Global Capital has petitioned the U.S. Bankruptcy Court to sell off its Grayscale Bitcoin, Ethereum, and Ethereum Classic Trust holdings, totaling approximately $1.6 billion. This strategic liquidation aims to maximize creditor repayments amidst potential market volatility, following a recent SEC settlement.
Grayscale's Strategic Shift: Aiming for Bitcoin Spot ETF with Cash Redemption Model
Grayscale changes GBTC to a spot Bitcoin ETF using cash creation model, complying with SEC guidelines after Barry Silbert's resignation, marking a significant shift in the digital asset landscape.
ARK Invest Intensifies Investment in Robinhood
ARK Invest, led by Bitcoin enthusiast Cathie Wood, increased its stake in Robinhood, buying 1.1 million shares worth over $9.5 million in a single day. The investment was distributed across three ARK ETFs, with ARKK acquiring the majority.
Bitcoin Surges Past $28,000 and GBTC Discount Narrows to 17%
Bitcoin's value surged to $28,142 on Binance after Grayscale Investments won a lawsuit against the SEC, converting its Grayscale Bitcoin Trust into an ETF.
Grayscale Submits Comment Letter to SEC Regarding Spot Bitcoin ETF Application
Grayscale's legal team submitted a comment letter to the SEC, advocating for the approval of all spot bitcoin ETF applications, emphasizing fair regulation and investor protection.
GBTC Litigation: Fir Tree and Grayscale Reach Agreement
Fir Tree Partners, a significant shareholder of the Grayscale Bitcoin Trust (GBTC), and Grayscale Investments have reached an agreement resolving a lawsuit filed by Fir Tree in December 2022. The litigation sought documents and information from Grayscale about potential mismanagement and conflicts of interest at GBTC.
Bitcoin's Dawn of the ETF Era: ARK Investment
According to a report ARK Investment, in June 2023, Bitcoin experienced a resurgence in institutional sentiment, with the supply of Bitcoin that had remained unmoved for at least a year reaching an all-time high of approximately 70% of the circulating supply.
Gemini Co-founder Marks Spot Bitcoin ETF Approval Struggle for A Decade
The 10-year anniversary of the day that Cameron Winklevoss and his brother Tyler filed for the top slot in the first Bitcoin Exchange-Traded Fund (ETF) was celebrated today by the co-founder of the cryptocurrency exchange Gemini.
Grayscale CEO challenges SEC's denial of application
If GBTC becomes a spot BTC ETF, Grayscale Investments CEO Michael Sonnenshein stated investors will get a "few of billion dollars" back.
Grayscale withholds on-chain reserve evidence for security reasons
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. The company cited "security concerns" in a Nov. 18 Twitter thread addressing investor concerns. Pressure mounts for crypto firms to introduce proof of reserve after FTX's liquidity issues and subsequent bankruptcy.