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

1 DOGE = 1 SHIB

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.

Tags:
disclaimer read more

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

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