BlockFi unwinds Grayscale Bitcoin Trust
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An editor at Coincrop
13 Jul 2022 | 1 min read
his morning BlockFi has announced that positions in the Grayscale Bitcoin Trust have been unwound and it will no longer accept shares of the fund as collateral.
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The developer comes following the collapse and liquidation of crypto fund Three Arrows Capital which has caused contagion in the crypto world.
The New Jersey-based lender has stated that it no longer holds any positions in GBTC.
Grayscale is exposed to the collapse of Three Arrows Capital owning more than 5% of the Grayscale Bitcoin Trust.
ChrisAn editor at Coincrop
Chris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.