Ahead of grayscaleinvest day in court, the GBTC discount to its net asset value narrows and AlamedaResearch sues Grayscale over 'exorbitant' fees. LedesmaLyllah reports.
, this is the trimmest discount since Feb. 7. “While far from a certainty, it is our view that the market is underpricing the likelihood of a Grayscale victory,” said Sean Farrell, vice president of digital-asset strategy at Fundstrat. Grayscale and CoinDesk are both owned by crypto conglomerate Digital Currency Group.to seek injunctive relief for what it claims is over $250 million in asset value for the FTX debtor’s customers and creditors, according to a press release.
comparing it with those at other crypto companies and saying President Joe Biden has called on Congress to take action in this area.
The share of tether-denominated trading pairs has increased sharply since the collapse of crypto exchange FTX in November and reached a record high last week. "With the death of SEN, stablecoins will likely become even more ubiquitous among traders. Rather than deposit your dollars with an exchange, you deposit them with a stablecoin issuer, receive stablecoins and then transfer those to an exchange," Paris-based Kaiko said in a note on Monday. SEN was an interbank transfer network that was run by Silvergate Bank and that was widely used by crypto traders.
"The problem is, though, that stablecoin issuers still need access to a crypto bank, so the risk is now further concentrated," Kaiko added.
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