FTX debtors file lawsuit against Grayscale Investments

F. T. X. Edgers are filing a lawsuit against grayscale investments. Our crypto reporter David Hollerith has the latest on that story. Hey David. Hey Shauna.

Yeah. So this just came out in a press release. F. T. X. is alleging through its affiliate firm Alameda Research wants a hedge fund for Sam Bakman Freed that grayscale F. T.

X. Edgers are filing a lawsuit against grayscale investments. Our crypto reporter David Hollerith has the latest on that story. Hey David. Hey Shauna. Yeah. So this just came out in a press release.

F. T. X. is alleging through its affiliate firm Alameda Research wants a hedge fund for Sam Bakman Freed that grayscale if they were to lower their fees and stop preventing redemptions would give F. T. X. effectively five hundred fifty million dollars more or approximately ninety percent more than the current value that F.

T. X. shares are today. So this is grayscale Bitcoin and Ethereum trust which both traded hefty discounts because they can't automatically be redeemed and created if they were to lower their fees and stop preventing redemptions would give F. T. X. effectively five hundred fifty million dollars more or approximately ninety percent more than the current value that F.

T. X. shares are today. So this is grayscale Bitcoin and Ethereum trust which both traded hefty discounts because they can't automatically be redeemed and created as they are close ended funds. So what what's been going on here is actually shareholders for grayscales Bitcoin trust have raised similar issues with other asset managers coming out to sort of propose taking over the trust. And while most of that has been a bit of a PR campaign it looks like F. T.

X. is also going to try that as a way to maximize value for shareholders. The CEO as they are close ended funds. So what what's been going on here is actually shareholders for grayscales Bitcoin trust have raised similar issues with other asset managers coming out to sort of propose taking over the trust. And while most of that has been a bit of a PR campaign it looks like F. T. X.

is also going to try that as a way to maximize value for shareholders. The CEO under bankruptcy for F. T. X. John Jay Ray saying we will continue to use every tool we can to maximum maximize recoveries for F. T. X.

customers and creditors. And so their goal ultimately is to unlock the value that's being suppressed by grayscales by grayscales current situation according to him. Grayscales spokesperson also got back to us and they've said that the lawsuit filed under bankruptcy for F. T. X. John Jay Ray saying we will continue to use every tool we can to maximum maximize recoveries for F. T.

X. customers and creditors. And so their goal ultimately is to unlock the value that's being suppressed by grayscales by grayscales current situation according to him. Grayscales spokesperson also got back to us and they've said that the lawsuit filed by Alameda is misguided. They also said that Grayscale has been transparent about its efforts to obtain regulatory approval to convert their Bitcoin ETF or Bitcoin fund trust fund into an exchange traded fund. Now notably tomorrow Grayscale is going to start their oral arguments and their by Alameda is misguided. They also said that Grayscale has been transparent about its efforts to obtain regulatory approval to convert their Bitcoin ETF or Bitcoin fund trust fund into an exchange traded fund.

Now notably tomorrow Grayscale is going to start their oral arguments and their lawsuit against the SEC which is aimed at trying to get approval for that Bitcoin ETF.

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