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Tag: GBTC

January 18, 2024

Impact of Spot Bitcoin ETF Approval on Grayscale and Other Funds!

Recent developments in the crypto investment landscape, particularly the approval of spot bitcoin exchange-traded funds (ETFs), have led to significant shifts in holdings across various funds. Notably, Grayscale’s Bitcoin Trust (GBTC) has experienced a substantial reduction in its Bitcoin holdings, while ETFs like those from Blackrock and Fidelity have seen growth in their Bitcoin assets.

FinTelegram

November 9, 2023

Crypto Markets Bullish About The Possibility Of Soon-To-Be Approved Bitcoin EFTs!

The crypto community is buzzing with anticipation as the U.S. Securities and Exchange Commission (SEC) nears a pivotal decision period for approving Bitcoin exchange-traded funds (ETFs). The Bitcoin price has risen to almost $37,000 in the last few hours in hopes that the SEC will soon approve Bitcoin ETFs. The possibility of the SEC greenlighting as many as 12 pending spot Bitcoin ETF applications by mid-November looms large.

December 8, 2022

Crypto War: Hedge Fund Fir Tree Filed Lawsuit Against Grayscale

The big players in the global crypto scene are waging war against each other. New York-based hedge fund Fir Tree Capital Management is suing Grayscale Investments for information to investigate potential mismanagement and conflicts of interest at its $10.7 billion Grayscale Bitcoin Trust (GBTC), Bloomberg reports. GBTC is trading at a 43% discount to the value of the Bitcoin it holds, partly because the firm issued many shares in the past few years and didn’t redeem any of them.

November 23, 2022

End Game: Collapsed Bitcoin And High Energy Prices Threaten To Kill U.S. Crypto Miners!

The liquidity crisis in the crypto segment continues to spread. It looks like hardly any crypto exchange, broker, or lender will emerge unscathed from the bankruptcy tsunami. This also applies to Bitcoin miners who sell their Bitcoins almost as fast as they mine. Bitcoin miners are selling their coins at record levels, last seen in 2016. Most big mining players in the U.S face severe financial pressure, and some have already filed for bankruptcy. It seems to be the endgame!

November 18, 2022

Crypto Contagion Spreads Spreads With BlockFi Liquidity Crisis And GTBC Price Collapse!

There is currently sentiment on Twitter against the next crash candidate in the crypto space. Grayscale Bitcoin Trust (GBTC), the world’s largest cryptocurrency fund, has become caught up in the FTX crypto aftermath. The share price of the $10.5bn GBTC, which owns 3.5% of the world’s bitcoin, has plummeted to a 39% discount to the NAV. Troubled crypto lender BlockFi, GBTC's second-largest shareholder, allegedly prepares for bankruptcy!

Crypto-Trading

January 18, 2021

Osprey Bitcoin Fund – A low-cost bitcoin trust about to be listed at OTCQX

The BTC is currently oscillating around $37,000 with a resulting market cap of around $680B. ETH is holding at over $1,200 with a market cap of around $140B. No surprise that new crypto-related financial instruments are emerging, such as Greg King's Osprey Bitcoin Trust (www.ospreyfunds.io), whose shares started to trade on the OTC market in New York a few days ago. This has given competition to Barry Silbert's Grayscale Bitcoin Trust and may drive additional demand for BTC.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.

Prosecuted Telegram CEO Durov Challenges Personal Liability for Platform Misuse!

The prosecuted Telegram CEO Pavel Durov argues that holding CEOs personally liable for platform misuse is an outdated practice that threatens innovation. Following his Paris arrest, Durov emphasized that platforms like Telegram must adapt to rapid growth, but outdated liability standards should not stifle progress. His case highlights the ongoing debate about balancing innovation, privacy, and regulation in the tech world.

U.S. Regulator CFTC Lost Court Case Against Kalshi Legal Battle Over Election Bets!

KalshiEx is a U.S.-based prediction market platform that sought to offer trading in derivatives contracts based on the outcomes of Congressional elections, which the CFTC prohibited. KalshiEx challenged the regulator's decision in court and won, opening the door for election-based derivatives markets in the U.S. However, the CFTC is seeking a temporary stay.

Germany: Accomplices in Fraudulent Cyber Trading Platforms Charged by Karlsruhe Prosecutor!

The Baden-Württemberg Cybercrime Center in Germany has announced that it charged three suspects linked to an international fraud scheme that cost over 820 victims more than €5 million. The case marks a significant step in combating organized cyber trading fraud but underscores the growing complexity of such operations that often rely on an international division of labor.

Influencers

Influencers and Financial Crimes: A Short Guideline and a Request for Whistleblower Information!

Recently, the influencer industry has come under increased scrutiny from regulatory bodies worldwide. The case of Turkish influencers Dilan Polat and Engin Polat, facing $30 million money laundering charges and allegations of operating an illegal betting ring, perfectly demonstrates the potential legal risks in this sector. This high-profile case has prompted authorities to investigate hundreds of other influencers for potential financial crimes.