Is Grayscale Fighting for Cryptocurrency?

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If this conversion does go through, there w'uld likely be like a flood of redemptions to close in that trade and lock in that profit. And then that would also be especially true if the underlying bit coin is still in its current range around like 20 thousand dollars. So it's superinteresting, because there is a lot of risk that can happen in this situation, but there's also a lot of reward, which is often something that goes hand in hand here.

Welcome back. Lucas was out sick this week, so TC crypto reporter Jacquie Melinek subbed in as co-host to talk with Anita about the biggest stories in web3 this week. They discussed whether Sam Bankman-Fried is the savior crypto needs as more and more companies declare bankruptcy and unpacked the drama behind the fight for a U.S. Bitcoin spot ETF.

In this week’s interview, Anita chatted with Tux Pacific, the founder and CEO of Entropy, a startup that just raised a $25 million seed round led by a16z for its decentralized crypto custody solution. Pacific, one of the rare trans and queer founders to have raised institutional funding, dropped out of college to teach themselves cryptography. They describe themselves as an “anti-capitalist anarchist” and spoke with Anita abut why they think decentralization is the only way crypto can succeed.

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Helpful links:

https://techcrunch.com/2022/06/08/the-trans-queer-anarchist-crypto-founder-seed-round-a16z-andreessen-horowitz/

https://techcrunch.com/2022/07/01/crypto-mega-hedge-fund-three-arrows-capital-reportedly-files-for-bankruptcy-in-new-york/

https://techcrunch.com/2022/07/01/ftx-us-deal-with-troubled-crypto-lender-blockfi-floats-acquisition-with-up-to-240m-purchase-price/

https://techcrunch.com/2022/06/30/the-sec-rejected-bitcoin-spot-etfs-again-now-what/

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