The recent updates related to Grayscale Investments seems the firm is not in a good situation. As per the Bloomberg report, Fir Tree Capital Management, hedge fund, sued Grayscale Investments.
The reason for the suing came out as the hedge fund asks for information to investigate potential mismanagement and Billion of interest at its $10.7 Billion Grayscale Bitcoin Trust (GBTC.)
Grayscale Investments was founded in 2013 while its parent organisation is a venture capital firm, Digital Currency Group. It also runs Genesis Global Trading, a crypto lender and broker.
The Complaint Against Grayscale
However, on Monday the Grayscale Bitcoin Trust closed at a 43% discount to the value of the Bitcoin it holds. The filed complaint in Delaware Chancery Court states that GBTC has issued many shares in recent years whereas it did not redeem any of them.
Although, after the recent collapse of one of the biggest crypto exchanges, FTX and the price drop of most of the cryptocurrencies plunged GBTC pu
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