Investment Education

Bloomberg ETF analyst Eric Balchunas has issued an analysis of Grayscale's recently submitted prospectus. The document explicitly confirms Grayscale's cash-only acceptance for its fund, a stipulation met with no surprise given the firm's market position. Nevertheless, Balchunas noted the absence of any named authorized participants (AP) in the prospectus, a section that the Securities and Exchange Commission (SEC) typically expects to be completed. He expressed uncertainty over this omission, especially as Grayscale has previously appeared confident about this aspect of their fund. In addition, he highlighted another possible area of concern - the document's apparent lack of information regarding fees, another significant element that hasn’t been thoroughly addressed as per his observation. These details, or the lack thereof, leave open questions about the true structure and operation of Grayscale's proposed fund.

James Seyffart, a Bloomberg ETF analyst, informed via the X platform that Grayscale had submitted a third revised version of their S-3 registration statement. The update notably includes added material connected to the trust's third-party relationships. Seyffart commented that, at first glance, the amendment seemed to primarily add proofs related to these relations without too many other specifics. Earlier, Grayscale Bitcoin Trust (GBTC) had submitted a registration statement, including a prospectus, to the U.S. Securities and Exchange under U.S. Securities Law 163/433. Subsequently, they proceeded to file an amended S-3 registration document again. Seyffart noted this latest document as Amendment #3 to their ongoing efforts to convert $GBTC into a Bitcoin ETF.

According to Cointelegraph: The financial turbulence surrounding embattled Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC) continues. A court in the British Virgin Islands has recently frozen over $1.14 billion of assets owned by 3AC co-founders Su Zhu and Kyle Davies, marking another significant development in the firm's bankruptcy chronicles. This leading-edge legal action bars the 3AC co-founders from transferring or selling their assets and has also implicated assets owned by Davies' wife, Kelly Chen, according to Teneo, the firm's liquidator, and as reported by Bloomberg on December 21. Teneo, in its capacity as the appointed liquidator, placed the total debt owed to 3AC creditors at approximately $3.3 billion, following the fund’s disastrous 2022 collapse. The global freezing injunction coincides with allegations that the co-founders should bear responsibility for causing "3AC’s position to deteriorate by an amount equivalent to the value of the freezing orders sought." The liquidator further pointed out that Zhu and Davies are also subjects of a domestic asset freeze ordered by the Singapore Court. Established in 2012, 3AC was once counted among the largest global crypto hedge funds before it found itself unable to meet margin calls from its lenders and had to file for bankruptcy in the midst of the 2022 crypto bear market. Zhu was detained in Singapore in September 2023 for reportedly trying to depart the country following a local court sentencing him to a four-month prison term. Davies who, like Zhu, had also received an imprisonment order, is reportedly still at large. The Singaporean central bank has banned both co-founders from conducting regulated activities for the next nine years. The Chapter 15 bankruptcy filing of 3AC occurred in July last year after the downfall of stablecoin issuer Terra led to irreversible damages. Teneo is pursuing $1.3 billion, extending the freeze order to Ms. Kelly Chen as well, in a bid to maximize returns to creditors whose claims surpass $3 billion. Teneo indicated the order's objective is to prevent the founders and Chen from disposing of or dealing with their assets in a way that might hinder eventual enforcement by the liquidators.

Options are financial derivatives that provide traders with the right, but not the obligation, to buy (call option) or sell (put option) an underlying asset at a predetermined price (strike ...

Options are financial derivatives that provide traders with the right, but not the obligation, to buy (call option) or sell (put option) an underlying asset at a predetermined price (strike ...

Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=wq7DL7T1ONU VIDEO TRANSCRIPT Hello everyone, and welcome back. My name is Greg Firman, and this is the Vantage Point AI Market ...

When we talk about the Santa Claus Rally, it’s all about the stock market experiencing some serious gains right around the holiday season. It's like a year-end bonus for investors, ...

As reported by BlockBeats on December 13, the Virtual Asset Regulatory Authority (VARA) in Dubai has conferred a virtual asset service provider (VASP) license to CoinMENA, a cryptocurrency asset service provider. CoinMENA is a subsidiary of CoinMENA BSC (c), a Bahrain-based entity that has already secured a license as a crypto asset service provider from the Central Bank of Bahrain (CBB). This development marks a significant stride in CoinMENA's expansion and regulatory compliance within the Middle East's digital assets market.

Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=NUijCoO-tUE VIDEO TRANSCRIPT Hello everyone and welcome back. My name is Greg Firman, and this is the VantagePoint AI Market Outlook ...

Welcome to the Artificial Intelligence Outlook for Forex trading. https://www.youtube.com/watch?v=BDKLMBivhwI VIDEO TRANSCRIPT Hello everyone, and welcome back. My name is Greg Firman, and this is the Vantage Point AI Market ...