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BlockFi unwinds Grayscale Bitcoin Trust

Chris
Chris

An editor at Coincrop


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
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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.

BlockFi unwinds Grayscale Bitcoin Trust

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