BlockFi unwinds Grayscale Bitcoin Trust

BlockFi unwinds Grayscale Bitcoin Trust

Share this article

Chris
Chris

An editor at Coincrop


13 Jul 2022 | 1 min read
40,556 views

T

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.

Disclaimer: All of the information written on Coincrop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.

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.

 


Chris

Chris

An editor at Coincrop
View articles

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.


Our sponsor

CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.

Compare over 40,509 CeFi and DeFi products across more than 207 organizations here

Related Links

BlockFi