Besides the macroeconomic headwinds, when it comes to crypto, there are two main concerns at the moment: Binance and DCG. The situation surrounding Genesis Trading, Digital Currency Group (DCG) and Grayscale, which is still unresolved after a month, is depressing the market sentiment around Bitcoin. As reported by the Wall Street Journal, information has now…
Grayscale Bitcoin Trust (GBTC) remains the largest bitcoin trust in the world with billions of dollars worth of BTC, but in the last year, the trust has had a hard time keeping up with the market. The result of this has been a large premium that has continued to widen through the bear market. Currently,…
The Bitcoin price plunged to a new bear market low at $15,487 on Monday after rumors intensified that Genesis Trading and Digital Currency Group (DCG), which also owns Grayscale with its 635,000 BTC strong GBTC, would go bankrupt. Since then, the Bitcoin price is recording a relief rally. At press time, Bitcoin was trading at…
The Bitcoin price plunged to a new bear market low at $15,487 on Monday after rumors intensified that Genesis Trading and Digital Currency Group (DCG), which also owns Grayscale with its 635,000 BTC strong GBTC, would go bankrupt. Since then, the Bitcoin price is recording a relief rally. At press time, Bitcoin was trading at…
Ethereum co-founder Vitalik Buterin has published a cryptic tweet, which at first glance could cause further uncertainty in the crypto community. Referring to rumors of a possible bankruptcy of Genesis Trading and its parent company Digital Currency Group (DCG), Buterin wrote that “I’m hearing through the grapevine that something important is about to happen.” Buterin…
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 end of 2020, GBTC…
The recent crisis in the world’s third-largest crypto exchange, FTX, is creating more devastating conditions in the Bitcoin and crypto market. Over the past few days, the FTX token (FTT) has lost more than 70% of its value. The events seem to have unlocked the bears into the market. As a result, the cumulative market…
With the approvals of futures bitcoin ETFs, firms have taken it one step further and have applied with the Securities and Exchanges Commission (SEC) for spot-based bitcoin ETFs. However, unlike their futures and short counterparts, the spot ETFs have not found favor in the eyes of the regulatory watchdog. And as more spot-based bitcoin ETF…
The Grayscale Investment manager undertakes another phase of balancing its Grayscale DeFi fund. This round of rebalance inculcate the adjustment of the project’s Digital Large Cap Funds. This move marks its second balancing process after its launch in July 2021. An announcement on January 3 revealed the in-depth adjustments to Grayscale’s two funds. The first…
Grayscale Investments, the largest cryptocurrency fund in the world, announced a Solana trust, adding the growing cryptocurrency to its list of product offerings. They have shown great interest in Solana’s performance and see a near and long-term potential in it because of its capability for experimentation. In a public release, Grayscale Investments said they will…