Ms.Liz 🇬🇧
Ms.Liz 🇬🇧 2 minutes reading from Bitcoin

The Grayscale Address: A Misuse of the SEC’s #GBTC

FinTech's GBTC is regulated by SEC, and Coinbase provides custody for the underlying BTC, which means that if there is misappropriation, the SEC will not ignore it, and Coinbase will not be indifferent

Secondly, the GBTC held by FinTech is a BTC-based trust product. Although it is not equal to BTC, as long as there is GBTC, the inventory BTC will not be liquidated.

As for the withdrawal of Genesis and the issue of DCG, the opportunity will not affect Grayscale alone. Grayscale is an independent company, and DCG is at most a company that sells shares of Grayscale or sells Grayscale

And Grayscale has no way to liquidate BTC because of GBTC, unless it is to liquidate all GBTC, of ​​course, this is another story. Then Grayscale is currently the closest to the first batch of BTC spot ETFs from a demand perspective

In the end, the so-called "guessing" that the so-called grayscale address has only 310,000 BTC is pure nonsense, and I am lazy to explain it. This is more ridiculous than saying that Tether doesn't have enough assets to back USDT

And the unwillingness to disclose the address doesn't mean anything. The MicroStrategy, which is shouting to be exploded every day, has not been announced, nor has Coinbase been announced

This post is based on this twitter thread.


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