Grayscale has announced that its services are operating as usual after Genesis freezes withdrawals.
While underlining that its services are operating as usual, the company stated that they were not affected in any way after Genesis Global Capital stopped withdrawals.
Grayscale Assured
The company reassured its investors after Genesis’ withdrawals. Genesis Global Trading is a partner company of Grayscale.
The company made a statement about the Grayscale Bitcoin Trust product and stated that its products are held securely in cold wallets by Coinbase and backed by underlying assets.
The company said it did not borrow, lend, or mortgage its products.
FTX’s Chapter 11 bankruptcy filing last week has deeply affected companies in the cryptocurrency industry. Many crypto companies, especially Binance, have undertaken a series of activities to prove their reserves.
Binance announced the establishment of a fund to solve the liquidity problems of crypto companies. Changpeng Zhao, the CEO of the company, stated that they have already received many applications.
