Grayscale Tweets About Insolvency Rumors

Grayscale Tweets About Insolvency Rumors
  • Grayscale has tweeted about the insolvency rumors.
  • Grayscale Bitcoin Trust (GBTC) shares have fallen 74%.
  • As of the closing of trade on November 28, ETHE had 3,044,506 ether.

Grayscale’s Twitter account officially tweeted on the reports about them possibly not supporting customers’ BTC on November 30th.

Grayscale has guaranteed, like all other trustworthy crypto firms, that everything is excellent with the company. It also affirms that other crypto assets completely back all crypto assets.

I’m going to have to start calling myself the FUD destroyer, we back all of our customers’ crypto one-to-one.

1 BTC = 1 BCH

1 ETH = 1 ETC


CEO Michael Sonnenshein

The crypto investment firm’s second tweet attempts to get new consumers to invest with them. It also implies that full reserves will be available shortly. presumably, in an attempt to lure some of the new young and trendy investors, they use the traditional crypto slogan “Trust me, Bro.”

According to other sources, Grayscale Bitcoin Trust (GBTC) shares have fallen 74%  to date and are currently trading at roughly $8.75. Its stock is trading at a record discount of 42.69%.

Following the FTX crash, the community wonders if Grayscale is in peril. Over 635,000 Bitcoins (BTC) and 3,1 million Ethereum are now held by GBTC (ETH). The total value of these coins is $13.7 billion.

Share redemptions are presently unavailable in all Grayscale trusts. Grayscale trusts trade at a separate price to the assets they own because investors cannot send ETHE to Grayscale to redeem ether.

Grayscale also revealed that Coinbase Custody holds its digital assets. As of the closing of trade on November 28, ETHE had 3,044,506 ether.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer