1. BITBILIHome
  2. Article

Alameda Research seeks support from claimants who hold 10% of GBTC

• 159 views

TL;DR Breakdown

  • Alameda has announced its intention to file an amended complaint against Grayscale, with the goal of adding additional plaintiffs who own at least 10% of the outstanding shares of the GBTC Trust.
  • Recently, David Bailey, the CEO of Bitcoin Magazine, encouraged GBTC shareholders to join the lawsuit by registering on RedeemGBTC.com.

Description

The bankrupt cryptocurrency investment firm, Alameda Research, is seeking support from claimants who hold 10% of Grayscale’s Bitcoin Trust (GBTC) shares in its ongoing lawsuit against Grayscale and its parent company, Digital Currency Group (DCG). Alameda has announced its intention to file an amended complaint against Grayscale, with the goal of adding additional plaintiffs who … Read more

The bankrupt cryptocurrency investment firm, Alameda Research, is seeking support from claimants who hold 10% of Grayscale’s Bitcoin Trust (GBTC) shares in its ongoing lawsuit against Grayscale and its parent company, Digital Currency Group (DCG).

Alameda has announced its intention to file an amended complaint against Grayscale, with the goal of adding additional plaintiffs who own at least 10% of the outstanding shares of the GBTC Trust. The company is currently in discussions with several unnamed GBTC shareholders who are willing to join as co-plaintiffs. However, Alameda has requested an extension of five days for these shareholders to confirm their participation and contribute to the amended complaints.

Recently, David Bailey, the CEO of Bitcoin Magazine, encouraged GBTC shareholders to join the lawsuit by registering on RedeemGBTC.com. He emphasized that the outcome of the lawsuit would have significant implications for all shareholders, determining whether they are treated as investors or held hostage to unfavorable practices.

Alameda lawsuit against Grayscale

Alameda initially filed the lawsuit against Grayscale in March, alleging that the company was benefiting itself unfairly at the expense of shareholders. The complaint cited Grayscale’s refusal to allow share redemption for underlying assets and raised concerns about its high sponsor fees being derivative.

In response to Alameda’s lawsuit, Grayscale moved to have it dismissed in May, arguing that the allegations should only be brought by at least two unaffiliated shareholders who own a minimum of 10% of the Trust’s shares.

GBTC’s discount to its net asset value (NAV) has recently widened to 30.11% after a period of narrowing earlier this month, as reported by ycharts data.

Additionally, Grayscale is currently embroiled in a legal dispute with the Securities and Exchange Commission (SEC) regarding the approval of its plan to convert its Bitcoin Trust into an exchange-traded fund (ETF).

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Alameda Research seeks support from claimants who hold 10% of GBTC

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月29日 20:10
Next 2023年7月29日 22:18

Related articles

  • Judge rules in favor of Ripple, XRP is not a security!

    TL;DR Breakdown The U.S. District Court ruled in favor of Ripple Labs against a SEC lawsuit, declaring the company’s XRP token is not a security. This ends the SEC’s pursuit to classify XRP as a security which required additional regulation. The ruling resulted in a significant surge in XRP’s price, rising by 16% immediately after the news broke. Description In a landmark ruling, Ripple Labs breathed a sigh of relief when the United States District Court in the Southern District of New York favored the company against a lawsuit filed by the Securities and Exchange Commission (SEC). Judge Analisa Torres, on July 13, declared the XRP token, Ripple’s digital currency, not a security, marking … Read more In a landmark ruling, Ripple Labs breathed a sigh of relief when the United States District Court in the Southern District of New York favored the company against a lawsuit filed by the Securities and Exchange Commission (SEC). Judge Analisa Torres, on July 13, declared the XRP token, Ripple’s digital currency, not a security, marking a significant turning point in a case that…

    Article 2023年7月14日

  • Ripple’s legal team and SEC engage in war of words over lawsuit tactics

    TL;DR Breakdown Ripple’s Chief Legal Officer, Stuart Alderoty, criticized the SEC’s latest court filing as a “hypocritical pivot,” accusing the regulatory body of inconsistencies in its stance on cryptocurrency regulations. The SEC’s recent filing accuses Ripple Labs of intentionally prolonging the lawsuit to maintain public sales of XRP, a claim that has sparked outrage and allegations of hypocrisy from the Ripple community. Prominent defense lawyer James Filan and other legal experts have questioned the SEC’s sincerity in wanting to conserve judicial resources, pointing out that the SEC itself has been known for employing delay tactics in the case. Description Stuart Alderoty, Ripple’s Chief Legal Officer, has labeled the U.S. Securities and Exchange Commission’s (SEC) latest court filing as a “hypocritical pivot,” escalating tensions in the ongoing legal battle between the two entities. Alderoty took to social media to criticize the SEC’s recent submission, which aimed to reinforce its interlocutory appeal.  He pointed out what … Read more Stuart Alderoty, Ripple’s Chief Legal Officer, has labeled the U.S. Securities and Exchange Commission’s (SEC) latest court filing as a “hypocritical pivot,” escalating…

    Article 2023年9月10日

  • Nigeria’s CBN introduces NFC upgrade for eNaira

    TL;DR Breakdown The Central Bank of Nigeria (CBN) has introduced Near Field Communication (NFC) to the eNaira mobile app. NFC allows contactless transactions between mobile devices and payment terminals. The eNaira digital currency aims to streamline transactions and improve financial inclusion. Description Despite a change in leadership only weeks prior, Nigeria’s Central Bank (CBN) remains resolute in its dedication to the central bank digital currency (CBDC), colloquially known as eNaira, which has seen no signs of being abandoned. As a recent enhancement, the CBN has introduced Near Field Communication (NFC) technology to the eNaira mobile app, a … Read more Despite a change in leadership only weeks prior, Nigeria’s Central Bank (CBN) remains resolute in its dedication to the central bank digital currency (CBDC), colloquially known as eNaira, which has seen no signs of being abandoned. As a recent enhancement, the CBN has introduced Near Field Communication (NFC) technology to the eNaira mobile app, a move that modernizes the platform and aligns it with global standards. Nigeria enhances the eNaira experience The incorporation of NFC technology into the eNaira platform…

    Article 2023年7月24日

  • Ethereum whales dump all holdings: A potential delay in the bull market?

    TL;DR Breakdown Bull Market Blues: Ethereum Whales Trigger Market Uncertainty. Possible Implications of Ethereum Whales Dump on the bull market. The crypto community remains in a state of confusion on whether the market is in a bull or a bear market. The Ethereum (ETH) market is facing big problems, as new data show that major investors are selling off their holdings. According to data from blockchain analytics, the number of Ethereum accounts with 1,000 or more coins has dropped to its lowest level in 10 months. This low was seen in November 2022, when the number was slightly higher at 6,270. Understanding Ethereum whales Ethereum, the second-largest crypto by market capitalization, has attracted the interest of some very affluent people. Ethereum whales are wealthy people with large quantities of Ethereum (ETH), the token used on the Ethereum network. Since they can buy or sell large tokens, their investment decisions can significantly affect market dynamics. Reports that “Ethereum whales” sold all their shares shocked the crypto community. The market had been expecting a possible bull run, which usually means a significant…

    Article 2023年6月4日

  • The Swaprum incident: Audited DeFi protocol dupes investors out $3m

    TL;DR Breakdown Decentralized exchange Swaprum reportedly made off with $3 million in investor funds. Auditing firm CertiK, which audited Swaprum’s protocols, is facing scrutiny for potential oversight. The incident has drastically dropped the value of Swaprum’s token, SAPR, impacting retail investors. Yesterday, a shockwave passed through the decentralized finance (DeFi) industry as Swaprum, a decentralized exchange based on the Arbitrum blockchain, allegedly made off with about $3 million of investor funds. Swaprum, known for promising potential annual percentage yields up to 100% and offering high farming rewards and low swapping fees, recently attracted over 22,000 wallets holding the protocol’s token, SAPR. DeFi investor, Damicale Shilling, was the first to sound the alarm after observing an alarming pattern of on-chain activity tied to the protocol’s promotional efforts. DeFi Security, a security firm, soon validated the concerns, confirming that Swaprum’s developers’ theft was underway, initially estimating the losses at around $1 million. As the day ended, blockchain security firm PeckShield revised the estimated loss, placing it at $3 million. The devious culprits exploited the privacy protocol Tornado Cash, a service designed to…

    Article 2023年5月21日
TOP