Press Release From Grayscale, All Eyes On After The Genesis Incident!

After the credit department of the Genesis company within the Digital Currency Group (DCG) stopped the withdrawals, the eyes were turned on another DCG company, Grayscale.

Grayscale, in a statement made on Twitter today, said that its products are not related to Genesis in any way and that all of its products are operational.

Grayscale Released Official Press Release

As the latest development, the company has issued a press release on the subject. Here is Grayscale’s statement on the subject:

“Grayscale Investments, the world’s largest digital currency asset manager, reaffirmed today that the safety and security of the assets underlying the company’s digital asset products remains unaffected by recent market events and continues to operate as usual.

Genesis Global Capital LLC, a subsidiary of Grayscale’s subsidiary Genesis Global Trading Inc, announced today that it has temporarily suspended withdrawals and new loan purchases. Genesis Global Capital is not a counterparty or service provider for any Grayscale digital asset product and as such, its recent announcement will not affect the operations of any Grayscale digital asset product.

Grayscale and Grayscale’s digital asset products are prohibited from securing the digital assets underlying their products under the terms of the trust agreement or limited liability company agreement governing each digital asset product, and Coinbase Custody Trust Company LLC, the custodian of the assets, as specified in the respective custody agreements of the products, It is forbidden to engage in such activities.”

Grayscale CEO Michael Sonnenshein said the following, according to the company’s press release:

“Grayscale’s digital asset products offer investors cryptocurrency It is designed to provide secure and transparent access to the ecosystem. While this is a difficult time for many, the Grayscale team remains confident in the future of the crypto industry.

Our team advocates and will continue to advocate for greater regulatory clarity for our investors, and we hope to see positive momentum on this in the coming months.”

*Not investment advice.

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