ChainCatcher news, according to Coindesk, New York-based hedge fund Fir Tree Partners is launching a new fund focused on distressed crypto assets, "The Fir Tree Digital Asset Opportunities Fund," which will be launched on August 1.Fir Tree stated: "Fir Tree performs best when we find mispriced, misaligned, or complex opportunities. We rarely encounter a situation where all three are present at the same time, but that is exactly what we are seeing in the crypto market now."

ChainCatcher news, according to Bloomberg, hedge fund Fir Tree has reached an agreement with Grayscale, withdrawing its lawsuit against Grayscale and stating that it still believes Grayscale can and should conduct a tender offer. Redeeming the issued GBTC would allow holders to recover billions of dollars in value, which would be a win-win solution.Previous report, last December Fir Tree sued Grayscale for details about its flagship product, Grayscale Bitcoin Trust (GBTC), hoping Grayscale would lower fees and restore redemptions to address its trading discount issue. (Source link)

ChainCatcher news, according to a report by Bloomberg citing documents from a court in Delaware, the hedge fund Fir Tree is suing Grayscale for details regarding its flagship product, the Grayscale Bitcoin Trust (GBTC). Fir Tree hopes that Grayscale will reduce fees and restore redemptions to address the issue of its trading at a discount. It is reported that the current discount on GBTC has reached as high as 43%. (Bloomberg)