Hedge fund Fir Tree files lawsuit against Grayscale: Bloomberg
Hedge fund Fir Tree Capital Management is suing crypto investment fund Grayscale Investments for information to investigate potential mismanagement and conflicts of interest, Bloomberg News reported, citing Delaware court documents.
Fir Tree wants to use the the information to push Grayscale to address the large discount it trades at relative to the bitcoin it holds by lowering fees and resuming redemptions, Bloomberg cited sources as saying.
The complaint also alleges that Grayscale investors have been harmed by “shareholder-unfriendly actions.”
Grayscale is part of the Digital Currency Group (DCG) that has faced challenges after the collapse of the FTX crypto exchange, with sister firm Genesis halting client withdrawals last month.
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Author: Catarina Moura