{"id":44314,"date":"2023-01-24T06:57:23","date_gmt":"2023-01-24T10:57:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44314"},"modified":"2023-01-24T06:57:26","modified_gmt":"2023-01-24T10:57:26","slug":"grayscale-sec-lawsuit-now-schedules-for-march-7","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/grayscale-sec-lawsuit-now-schedules-for-march-7\/","title":{"rendered":"Grayscale-SEC lawsuit now schedules for March 7"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-following-the-bankruptcy-issue-of-genesis-global-a-district-of-columbia-court-of-appeals-has-set-the-date-for-grayscale-s-legal-action-against-the-securities-and-exchange-commission-sec-to-march-7-2023-as-opposed-to-the-initial-date-in-april\">Following the <a href=\"https:\/\/coinscreed.com\/staging\/genesis-global-files-for-bankruptcy.html\">bankruptcy issue of Genesis Global,<\/a> a district of Columbia Court of Appeals has set the date for Grayscale's legal action against the Securities and Exchange Commission (SEC) to March 7 2023 as opposed to the initial date in April.<\/h5>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-32.png\" alt=\"Grayscale-SEC lawsuit now schedules for March 7\" class=\"wp-image-44316\" width=\"763\" height=\"395\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-32.png 581w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-32-300x155.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-32-150x78.png 150w\" sizes=\"(max-width: 763px) 100vw, 763px\" \/><figcaption class=\"wp-element-caption\">Grayscale-SEC lawsuit now schedules for March 7<\/figcaption><\/figure>\n\n\n\n<p>The District of Columbia Court of Appeals has scheduled March 7 to hear oral arguments in<a href=\"https:\/\/www.google.com\/search?q=Grayscale-SEC+lawsuit+now+schedules+for+March+7&rlz=1C1SQJL_enNG889NG889&oq=Grayscale-SEC+lawsuit+now+schedules+for+March+7&aqs=chrome..69i57.589j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\"> Grayscale's complaint against the U.S. Securities and Exchange Commission<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>, in accordance with a court order issued on January 23. (SEC).<\/p>\n\n\n\n<p>It was anticipated that the oral arguments will start in the second quarter of 2023. However, the court has postponed the case, and as of March 7 at 9:30 AM ET, both parties will argue their cases before the court, according to CNBC on January 24.<\/p>\n\n\n\n<p>After the request to convert the <a href=\"https:\/\/coinscreed.com\/staging\/grayscale-bitcoin-trust-reports-41-meltdown.html\">Grayscale Bitcoin Trust<\/a> (GBTC) to a Bitcoin ETF was denied, Grayscale launched a lawsuit against the SEC in June 2022. The SEC denied the application, citing worries about market manipulation and investor safeguards as justifications.<\/p>\n\n\n\n<p>The action may have been prompted by Genesis Capital, a sibling company of Grayscale and a cryptocurrency lender, filing for Chapter 11 bankruptcy last week. Due to the FTX bankruptcy, Genesis halted withdrawals, redemptions, and the creation of new loans.<\/p>\n\n\n\n<p>Investors' worries about GBTC's growing discount premium rates after Genesis' bankruptcy have increased in the meanwhile. The GBTC now has $14.5 billion in assets under management and a negative premium rate of 41.5%.<\/p>\n\n\n\n<p>The Grayscale Bitcoin Trust's management and sponsorship have been suggested to be taken up by <a href=\"https:\/\/coinscreed.com\/staging\/valkyrie-investment-set-to-launch-100-million-defi-next-week.html\" target=\"_blank\" rel=\"noreferrer noopener\">Valkyrie Investments<\/a> and Osprey Funds (GBTC). According to the companies, shareholders will have a better choice for reduced management fees and a redemption scheme.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the bankruptcy issue of Genesis Global, a district of Columbia Court of Appeals has set the date for Grayscale&#8217;s legal action against the Securities and Exchange Commission (SEC) to March 7 2023 as opposed to the initial date in April. The District of Columbia Court of Appeals has scheduled March 7 to hear oral [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":44316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12246,541,812,143],"class_list":["post-44314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-genesis-global","tag-grayscale","tag-grayscale-bitcoin-trust","tag-sec"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-32.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=44314"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/44316"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=44314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=44314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=44314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}