Grayscale has been receiving a lot of criticism for not providing definitive proof of their holdings over the past two weeks, for instance on social media, but also here in the subreddit:

https://preview.redd.it/clmgoqfbmq2a1.png?width=916&format=png&auto=webp&s=20bb7f84c1c486cfbe532144de70269fcbd4b25f

This caused many people to wonder, what does Grayscale have to hide? Because the "just trust me bro" strategy does not cut it anymore in this space. The public has been lied to too often.

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In response, Grayscale just published a long news post titled 'Safety, Security, and Transparency'. In this post, they try to convince the audience that the holdings of Grayscale's digital asset products are safe and secure and that each digital asset product is set up as a separate legal entity. They also affirm that each digital asset is owned by Grayscale BTC and Grayscale BTC alone.

Moreover, they share the SEC documents (public filings) for their investments as proof of the investments they hold:

https://preview.redd.it/9v180huenq2a1.png?width=608&format=png&auto=webp&s=1f1b66c4188b86fcd56fe22221dc0a9ef96d943c

However, from what I can tell, Grayscale still fails to give proper proof, like wallet addresses. They continue to do so deliberately, citing Matt Levine's column titled 'Keeping Track of Crypto Is Hard' (lol), alongside the following message:

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https://preview.redd.it/caizd40foq2a1.png?width=352&format=png&auto=webp&s=4f8da38981198613e194df4ff5a34d539b6eee95

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https://preview.redd.it/24mtluo2oq2a1.png?width=355&format=png&auto=webp&s=81c2b938415c4c03480218d58ea8810e31bd5968

So, Grayscale still refuses to remove all doubt regarding their holdings, like some major parties have done over the past few weeks. In my view that is not enough. What do you think of this? Why would they just not take away all doubts?

🚀

The yield curve is as inverted as SBFs Efficient Altruism. Unprecedented Inversion signalling recession all over the yield curve. Global GDP falling flat on its face all over the place. Don't buy into the current recovery signals, the worst is yet to come, and the FED won't stop hiking rates until papa market rolls them over with a truck of vengeance - like always. Make no mistake, FED will have to cut rates sooner than later.

1m at 4.12 / 30y at 3.74

- ... No Words

Buckle Up Bois and Good Luck