Genesis’ extended withdrawal freeze – the lender has told its creditors it will take weeks rather than days to find a solution – continues to weigh on crypto markets, Bernstein said in a research report Thursday.
Parent company DCG owes Genesis about $1.7 billion. Bernstein sees three potential approaches for DCG: It could raise capital; sell non-strategic assets and save digital currency asset manager Grayscale; or dissolve the Grayscale Bitcoin Trust (GBTC).
The “nuclear option” and the least preferred choice for DCG would be a dissolution of GBTC, the report said. DCG could apply for
