Per The Block
Crypto investment firm Grayscale cites "security concerns" as to why they won't show proof of reserves. The firm acknowledged its decision would be a disappointment to some investors.
Grayscale said panic isn't a good enough reason for them to "circumvent complex security arrangements that have kept our investors' assets safe for years." Another crypt entity, Genesis Global Capital, with links to Grayscale, halted withdrawals.
Since FTX's SBF tweeted, "FTX is fine. Assets are fine," on November 7, GBTC shares dropped 30.7%.
