Grayscale’s Got a Plan

Tender Offer?

By: Aleksandar Gilbert Loading...

Early this year, in a letter to investors, Grayscale CEO Michael Sonnenshein wrote that the day-to-day debates that animate the crypto industry shouldn’t “distract us from our longer-term conviction.”

In his most recent letter to investors, published this morning, Sonnenshein returned to those words, noting, “2022 certainly tested our resolve.”

That might be an understatement. Just a couple of weeks ago, industry observers were wondering whether Grayscale would be taken down by a sister company’s alleged insolvency. I was told by a source around Thanksgiving that THAT sister company, Genesis, would file for bankruptcy within a couple of days. Now, that hasn’t happened, and rumors of Genesis’ and Grayscale’s demise seem to have been overblown.

Nevertheless, what happens at those firms and their parent company, Digital Currency Group, is very, very important when one considers the health of the industry. With that in mind, we’re going to take a look today at Sonnenshein’s latest letter, in which he shares his reflections on the year that passed and details the path forward of Grayscale and its flagship product, the Grayscale Bitcoin Trust. Don’t forget to like this video and subscribe to The Defiant for all your DeFi news.