FTX Sues Grayscale as It Seeks $250 Million in Its Trust
Bankrupt digital currency trading firm FTX Derivatives Exchange, through its sister trading firm, Alameda Research, has filed a lawsuit against Grayscale Investment. The case was filed in the Court of Chancery in the State of Delaware, and it names its CEO, Michael Sonnenshein, and the parent company, Digital Currency Group, as defendants.
Eyes Shift to Judges as Grayscale-SEC Saga Moves Forward
After trading written legal briefs in recent months, Grayscale Investments and the SEC are now set to exchange oral arguments for the first time in a case to determine whether or not the regulator wrongly denied the firm’s proposed spot bitcoin ETF. Grayscale, a prominent crypto investment firm, sued the SEC last June after the agency did not allow the firm to convert its flagship Bitcoin Trust (GBTC) to an ETF. GBTC launched in 2013 and holds $14 billion in assets. The trust has traded at a discount of more than 40% in recent weeks. Grayscale’s preferred solution is converting the trust to an ETF — the firm says doing so would alleviate GBTC’s discount by introducing liquidity. (Blockworks)
Grayscale’s Day in Court Is Nearly Here, but a Major Decision Could Take Time
Grayscale is set to present oral arguments in its case against the U.S. Securities and Exchange Commission on Tuesday.
FTX Debtors Affiliate Alameda Research Files Lawsuit Against Grayscale and DCG
Alameda said it owned $290 million worth of shares in Grayscale's Bitcoin and Ether trusts as of March 3.
Alameda Sues Grayscale and DCG to Allow Redemptions, Reduce Fees
FTX sister company Alameda Research has filed a lawsuit against crypto asset manager Grayscale Investments seeking injunctive relief to realize what it claims is over $250 million in asset value for the FTX Debtor’s customers and creditors, according to a press release.
Digital Assets Under Management 5.25% Higher in February — Grayscale Still 'Most Dominant Player'
The total U.S. dollar value of digital assets under management (AUM) in February rose to $28.3 billion up from approximately $26.8 billion recorded in January, the latest Cryptocompare data has shown. The latest total makes this the “highest AUM recorded since May 2022,” the report added.
Grayscale to Argue SEC’s Inconsistency As Bitcoin ETF Dispute Heads Toward Court
Grayscale says it’s preparing to argue in court next week that the Securities and Exchange Commission (SEC) inappropriately treated its bitcoin exchange-traded fund (ETF) bid differently than earlier decisions on futures ETFs, according to the company’s legal team.
Grayscale CEO: If GBTC Gets Approval It Could Return a ‘Couple Billion Dollars’ to Investors
Grayscale Investments CEO Michael Sonnenshein “can’t imagine” why the United States Securities and Exchange Commission (SEC) “wouldn’t want” to protect Grayscale investors and return the true asset value to them, in a recent podcast interview.
GBTC Discount Widens to Highest Point in 2023
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.
Grayscale Bitcoin Fund (GBTC) 47% Discount As DCG Navigates Treacherous Waters
The Grayscale Bitcoin Trust (GBTC) has dropped to a discount of 47%. This is a near-record markdown for the fund, which saw its biggest discount in December 2022.
