Gray Scale

Crypto firm Digital Currency Group (DCG) and Grayscale objected to bankrupt lender Genesis' move to divest its assets, including Grayscale's Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG), shares worth approximately $1.6 billion, according to recent court filings

The crypto company continued that complying with Genesis' request might undermine its ability to ensure compliance with federal securities laws and regulations.

As such, Grayscale respectfully requested the Court to deny the portion of the motion seeking to nullify its consent rights and the authorized participant requirements. The firm further emphasized the need to undertake its standard process to ensure compliance with applicable laws, including federal and state securities laws.