The world’s giant cryptocurrency investment company Grayscale has publicly announced that giants such as Bitcoin (BTC) and Ethereum (ETH) will not share their evidence of reserves after the lows they have reached in the last year.
Reserve Statement from Grayscale!
According to a statement made minutes ago, Grayscale, the leading investment company in the crypto currency markets, stated that they would not share evidence of reserves, citing security concerns. The world’s giant crypto currency investment company Grayscale made the following statements in its statements:
Due to security concerns, we do not make such on-chain wallet information and confirmation information publicly available through cryptographic Proof of Reserve or other advanced cryptographic accounting procedures.
However, the leading firm noted that the decision to keep reserve information confidential may be “disappointing” on behalf of some investors. After FTX, the popular exchange of crypto money markets, filed for bankruptcy protection earlier this month, it was suggested that pressure was being exerted on crypto money firms to show more information about their reserves. In addition, Grayscale addressed the panic caused by the collapse of FTX and included the following statements in its statements without naming the company:
The panic caused by other companies is not a good enough reason to circumvent the complex security arrangements that have kept our investors’ assets safe for years.
The popular cryptocurrency investment company Grayscale Bitcoin Trust (GBTC) suffered a record low on Thursday, as did the ETHE product. Digital Currency Group, the parent company of the firm, is trying to eliminate the panic situation after the shocking collapse of FTX. But at the same time, another organization affiliated with Grayscale had recently stopped withdrawals. Genesis Global Capital is affiliated with Grayscale through the Digital Currency Group.
While the effects of the collapse of FTX continue, the leading cryptocurrency Bitcoin is trading at the level of 16.637 dollars.
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