On Nov. 18, 2022, at 5:47 p.m. (ET), Grayscale Investments’ official Twitter account shared information on the safety and security associated with Grayscale’s digital asset products. The update from Grayscale follows the recent FTX collapse that has shaken crypto investors, and Digital Currency Group’s (DCG) Genesis pausing the firm’s lending unit in terms of withdrawals and new loan originations.
Grayscale Updates Public With Safety and Security Information — Custodian Says ‘All Digital Assets That Underlie Grayscale’s Digital Asset Products Are Held by Coinbase Custody’
The FTX fallout has caused a ripple effect of fear in the crypto industry, which caused massive amounts of crypto withdrawals following the event. For instance, over $5 billion worth of bitcoin (BTC) and ethereum (ETH) was withdrawn from exchanges between