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Gemini Trust: Genesis is seeking authorization from the bankruptcy court to monetize its interests in GBTC, ETHE, and ETCG. Gemini Trust stated on social media that yesterday evening, Genesis filed a motion for authorization to sell trust assets. This is an important step following the approval of GBTC as an ETP on January 10th. As detailed in the motion, Genesis is seeking authorization from the bankruptcy court to monetize its interests in GBTC, Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG).
In order to facilitate distributions to Small Earnings users (subject to confirmation of the plan), the motion also seeks authorization for Gemini to monetize its initial collateral (30,905,782 shares of GBTC) for the benefit of Small Earnings users. Genesis has requested an expedited hearing on the motion to be held at 11:00 a.m. Eastern Time on February 8, 2024.
Salvadoran Vice President: No intention to repeal the decision to make BTC legal tender. Despite repeated calls from the International Monetary Fund for El Salvador to abandon cryptocurrency as legal tender, the country has reiterated its commitment to accepting Bitcoin. Salvadoran Vice President Félix Ulloa stated in an interview with Reuters on Wednesday that even as the International Monetary Fund (IMF) once again urged the country to abandon the legal status of cryptocurrency, Bitcoin would still be El Salvador's legal tender during President Nayib Bukele's second term. El Salvador will hold elections on February 4th, electing a president, vice president, and all 60 representatives of the legislature. Ulloa confirmed that the Salvadoran government has no intention of repealing the decision to make BTC legal tender. He noted that the recent approval of a spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) further solidified their determination. |
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Post time 19-2-2024 06:52:22