According to PANews on August 21, according to PR Newswire, Alameda, UTXO Management and Balch & Bingham LLP announced to join Alameda in the lawsuit against Grayscale, and launched GrayscaleLitigation.com to facilitate other holders to join the plaintiff. At present, Fir Tree Partners, Saba Capital, Owl Creek Asset Management, Aristides Capital, etc. have expressed interest in joining. It is reported that Alameda initiated the lawsuit in March this year, asking for a reduction in management fees and allowing redemptions. According to Grayscale, the effort cannot proceed unless existing shareholders who collectively own at least 10% of all of the trust's shares join a lawsuit as co-plaintiffs. Trust shareholders are encouraged to participate as co-plaintiffs by submitting information using the designated website, GrayscaleLitigation.com, by September 1, 2023. Balch & Bingham LLP is prepared to represent eligible shareholders in litigation at zero out-of-pocket fees. Earlier news, Alameda Research is calling more plaintiffs to join the company's lawsuit against Grayscale Investments (Grayscale Investments).

Odaily Planet Daily News Alameda Research, UTXO Management, and Balch & Bingham LLP launched GrayscaleLitigation.com, so that relevant parties can join Alameda's plaintiff camp against Grayscale lawsuits. Alameda filed the lawsuit in March, seeking lower management fees and allowing redemptions. According to Grayscale, the effort cannot proceed unless existing shareholders holding at least 10% of the trust's shares band together as co-plaintiffs in the lawsuit. It is reported that in addition to UTXO Management, Fir Tree Partners, Saba Capital, Owl Creek Asset Management, and Aristides Capital have all expressed interest in joining Alameda’s lawsuit as co-plaintiffs. (PR Newswire) Prior to the news on August 11, Alameda Research stated that it was calling more plaintiffs to join the company’s lawsuit against Grayscale Investments (Grayscale Investments), and more than 45 parties, including individuals, funds and family offices, have expressed their willingness to serve as additional plaintiffs participate. The motion adds that Alameda needs more time "to continue to call plaintiffs to participate with it." The court gave plaintiffs until Sept. 15 to respond to Grayscale's motion to dismiss.

PANews news on July 15, according to CoinDesk, New York-based hedge fund Fir Tree Partners is launching a new fund focused on distressed encrypted assets, aiming to take advantage of the violent turmoil in the encryption industry over the past year to profit. It is reported that the fund will be launched on August 1. In its email, Fir Tree noted, “Fir Tree performs best when we identify mispriced, misplaced, or complex opportunities. We rarely encounter these three situations, but this is exactly what we are currently doing in digital assets. what you see". Fir Tree also stated that it "does not bet on the direction of cryptocurrencies" and will attempt to "hedge any crypto risks."

Golden Finance reports that hedge fund Fir Tree Partners is launching a new fund focused on distressed crypto-assets in an attempt to capitalize on the dramatic turmoil the industry has experienced over the past year or so to make money. The (Fir Tree Digital Asset Opportunities Fund) Digital Asset Opportunities Fund will launch on August 1, according to an email. Fir Tree says Fir Tree is at its best when we spot mispriced, misplaced or complex opportunities, we rarely have all three at the same time, but that's what we're seeing in digital assets right now Case.

Odaily Planet Daily News Hedge fund Fir Tree and Grayscale have reached an agreement to settle the lawsuit filed by Fir Tree against Grayscale in 2022. According to the announcement agreement, Grayscale will provide relevant documents of the company's flagship product GBTC. (The Block) According to previous reports, the hedge fund Fir Tree sued the cryptocurrency investment company Grayscale to obtain detailed information about its GBTC. Fir Tree hopes that Grayscale will reduce fees and resume redemption in order to solve the problem of its discounted transactions.

According to PANews news on July 12, according to Bloomberg News, Fir Tree Capital Management and encrypted asset management company Grayscale Investments have reached an agreement to settle the lawsuit filed by Fir Tree against Grayscale’s Bitcoin Trust last year. In December, Fir Tree Capital Management sued Grayscale for information to investigate potential mismanagement and conflicts of interest, according to Delaware court documents. Under the settlement, announced Tuesday, Grayscale will provide documents related to the company's flagship product, GBTC. Fir Tree's original lawsuit claimed that "shareholder-unfriendly conduct" harmed the interests of Grayscale's investors and called on Grayscale to allow the redemption of GBTC. Fir Tree said it still believed Grayscale "could and should" make a takeover bid. Redemption of outstanding GBTC shares would allow holders to recover billions in what would be a “win-win solution.”

According to PANews news on July 12, according to Bloomberg News, Fir Tree Capital Management and encrypted asset management company Grayscale Investments have reached an agreement to settle the lawsuit filed by Fir Tree against Grayscale’s Bitcoin Trust last year. In December, Fir Tree Capital Management sued Grayscale for information to investigate potential mismanagement and conflicts of interest, according to Delaware court documents. Under the settlement, announced Tuesday, Grayscale will provide documents related to the company's flagship product, GBTC. Fir Tree's original lawsuit claimed that "shareholder-unfriendly conduct" harmed the interests of Grayscale's investors and called on Grayscale to allow the redemption of GBTC. Fir Tree said it still believed Grayscale "could and should" make a takeover bid. Redemption of outstanding GBTC shares would allow holders to recover billions in what would be a “win-win solution.”

Jinse Finance reported that Fir Tree Capital Management and encrypted asset management company Grayscale Investments have reached an agreement to resolve the lawsuit filed by Fir Tree against Grayscale last year. In December, Fir Tree Capital Management sued Grayscale, seeking information to investigate potential mismanagement and conflicts of interest, according to Delaware court documents. Under the agreement announced Tuesday, Grayscale will provide documentation on the company's flagship product, GBTC. The product is designed to provide exposure to bitcoin in the form of securities that typically trade at a premium or discount to net asset value. Fir Tree's original complaint said Grayscale investors had been harmed by "shareholder-unfriendly conduct". It also called on the company to allow GBTC to be redeemed. Grayscale should make a tender offer for GBTC's shares, the company said. Grayscale needs shareholder approval for such an offering.