SEPOY.net
No Result
View All Result
Sunday, June 15, 2025
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home Crypto

Despite rumors, Grayscale refuses to publish its wallet addresses

Nicholas by Nicholas
November 21, 2022
in Crypto
0
Despite rumors, Grayscale refuses to publish its wallet addresses

Distrust is the word of the moment, following the fall of FTX. And it is the giant Grayscale which is apparently paying the price at the moment. While rumors swirl about the strength of its services, the company declined to share its wallet addresses. A decision that does not please the community.

READ ALSO

Plus de 72 milliards de dollars de paiements – Et si les stablecoins étaient déjà la monnaie de demain ?

Cryptocurrencies: the president of the financial stability council alert on the “systemic risk”

Malgré les rumeurs, Grayscale refuse de publier ses adresses de portefeuilles

Why is Grayscale’s GBTC struggling right now?

To understand what’s going on, we have to go back to the suspicions hanging over Grayscale at the moment. As a reminder, the Grayscale Bitcoin Trust (GBTC) is the largest cryptocurrency investment vehicle for institutional players. The company indeed keeps 634,000 BTC, i.e. 10.2 billion dollars at the current price.

The risk is therefore a particularly catastrophic contagion if Grayscale’s services were to collapse. However, the latter are currently accused of being more fragile than we thought.

Ryan Selkis, the founder of the analysis company Messari, thus affirmed a few days ago that the debts of Digital Currency Group, which issues GBTC, were greater than its cash. A tweet that has however since been deleted:

Oh boy,

as per @twobitidiotGenesis’ holding company Digital Currency Group, the issuer of $GBTCis experiencing a liquidity crunch.

“Appears holding company’s (DCG) liquid assets are below liabilities”. As a result, it looks like DCG is looking to raise outside funding. https://t.co/LvZ7inchYo

— Dylan LeClair 🟠 (@DylanLeClair_) November 17, 2022

Distrust therefore reigns, to the point that Grayscale issued a press release to allay investor fears.

👉 How to protect (really) his cryptocurrencies? All about Iand storage of cryptos

The French unicorn of crypto wallets 🔒

A complete crypto experience, from buying to securing

toaster icon

Grayscale will not publish its wallet addresses

The company detailed in a Twitter thread things to show the strength of its services. She recalls that the laws, regulations and documents surrounding the GBTC prevent it from being “loaned, borrowed or otherwise pledged“. In addition, the company recalls that the digital assets used for its investment products are kept by Coinbase Custody.

Grayscale therefore firmly asserts that all BTC that underpins its GBTC are held solely within this framework:

5) To be perfectly clear: the $BTC underlying Grayscale Bitcoin Trust are owned by $GBTC and $GBTC alone.

—Grayscale (@Grayscale) November 18, 2022

The company however refuses to publish the addresses of the wallets which contain the funds in question. Grayscale explains as follows:

“For safety reasons, we do not return the information”on chain” of this type public […] that that is by proof of cryptographic reserve or other advanced accounting cryptographic procedures. »

The community vscrypto not’has of course not been Nice to meet you of this refusalsome accusing Grayscale to have something to hide. However, the company has anticipated this review, and responded to it in the same Twitter thread:

“We know that this particular point will disappoint some, but the panic triggered by other entities is not sufficient reason to change complex security arrangementss that have kept our investors’ assets secure for years. »

So, legitimate security concern, or way to avoid scrutiny? In the community, the debate still rages. And it just goes to show that trust in major cryptocurrency-related companies has been turned upside down since the case. FTX.

👉 Also to be read – FTX : the new CEO reveals the chaos in business management

Join Experts and a Premium Community

PRO

Invest in your crypto knowledge for the next bullrun

toaster icon

Source : Grayscale via Twitter

Newsletter 🍞

Receive a summary of crypto news every Monday by email 👌

What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

To go further, read our Financial Situation, Media Transparency and Legal Notices pages.

author profile picture

Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.

Marine Debelloir

2205 items


Related Posts

Plus de 72 milliards de dollars de paiements – Et si les stablecoins étaient déjà la monnaie de demain ?
Crypto

Plus de 72 milliards de dollars de paiements – Et si les stablecoins étaient déjà la monnaie de demain ?

June 14, 2025
Cryptocurrencies: the president of the financial stability council alert on the “systemic risk”
Crypto

Cryptocurrencies: the president of the financial stability council alert on the “systemic risk”

June 14, 2025
$ 2.25 billion in debt to buy Bitcoin? Gamestop action collapses on the stock market
Crypto

$ 2.25 billion in debt to buy Bitcoin? Gamestop action collapses on the stock market

June 14, 2025
Will France undermine Bitcoin (BTC)? 123 deputies propose to seriously study the question
Crypto

Will France undermine Bitcoin (BTC)? 123 deputies propose to seriously study the question

June 14, 2025
Sharplink buys hundreds of millions of dollars from Eth, his course collapses – why?
Crypto

Sharplink buys hundreds of millions of dollars from Eth, his course collapses – why?

June 13, 2025
Coinbase unveils a crypto payment card with Bitcoin cashback
Crypto

Coinbase unveils a crypto payment card with Bitcoin cashback

June 13, 2025
Next Post
Inventor of the Web Sir Tim Berners-Lee wants to save your data from Big Tech with Web3.0

Inventor of the Web Sir Tim Berners-Lee wants to save your data from Big Tech with Web3.0

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: hello@sepoy.net

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • 60 Freispiele exklusive Einzahlung 2025 neue spiele casino Kasino über 60 Freispiele
  • Der Registrierungsbonus 25 Freispiele bloß Bedingungen
  • Spielbank Bonus exklusive 12 euro bonus ohne einzahlung casino Einzahlung 2023 Originell & kostenfrei Auf anhieb

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2023 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2023 Sepoy.net