FTX Debtors Seek Injunction to Unlock $9B in Value for Grayscale Trusts

FTX Bankruptcy and Grayscale Lawsuit

• Alameda Research Ltd. is suing Grayscale Investments, LLC, its CEO, Michael Sonnenshein, and its owners, Digital Currency Group and Barry Silbert for allegedly extracting more than $1.3 billion in management fees while preventing shareholders from redeeming their shares.
• FTX Debtors are seeking injunctive relief to unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts.
• John J. Ray III, CEO of FTX Debtors stated that they will use every tool to maximize recoveries for FTX customers and creditors by unlocking the value suppressed by Grayscale’s self-dealing and improper redemption ban.

Alameda Research Ltd.

Alameda Research Ltd., belonging to disgraced ex-billionaire Sam Bankman-Fried is suing Grayscale Investments, LLC as a debtor affiliate of FTX. The lawsuit seeks injunctive relief to unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts (the “Trusts”) while realizing over a quarter billion dollars in asset value for the FTX Debtors’ customers and creditors. It further alleges that “Grayscale has for years hidden behind contrived excuses to prevent shareholders from redeeming their shares,” resulting in shares trading at 50% discount to Net Asset Value.

Valkyrie Investment

Valkyrie Investments has been pushing Grayscale to make structural changes to the trust including taking control of it if needed. Furthermore, CEO Michael Sonnenshein wrote a letter stating that should the Grayscale Bitcoin Trust fail to convert into an ETF, potential moves could include a tender offer of 20% of the $10.7 billion trust.

FTX Bankruptcy

FTX went bankrupt in November 2022 leading them on a quest reacquire funds that could potentially rectify creditors . John J Ray III stated his goal was “to unlock value that we believe is currently being suppressed by Grayscale’s self-dealing and improper redemption ban” so they can benefit from additional recoveries along with other investors harmed by Grayscales actions as well


In conclusion, this lawsuit brought forward against Grayscale aims at liberating assets trapped behind self-dealing practices while providing monetary compensation through additional recoveries not only for their customers but other investors affected as well due to alleged improper practices such as preventing redemptions amongst others

CoinJoin Your Bitcoin Payments with BTCPay Server Plugin

  • BTCPay Server has added a CoinJoin plugin, allowing merchants to retain privacy while managing their stores.
  • The plugin includes a payment batching in CoinJoin feature, coin selection interface and arbitrary amount CoinJoins.
  • Merchants can choose to CoinJoin for a fee with a coordinator provided by zkSNACKs or run their own coordinator.

BTCPay Server Adds CoinJoin Plugin

BTCPay Server, an open-source Bitcoin payment processing software, has added a CoinJoin plugin that enables merchants to retain privacy while managing their stores. The plugin was developed by Andrew Camilleri and offers features such as payment batching in Coinjoin, coin selection interface and arbitrary amount CoinJoins.

WabiSabi Protocol for Automatic CoinJoin

Stores that activate the Wasabi Wallet-based WabiSabi CoinJoin coordination protocol will be able to automatically CoinJoin all of the bitcoin they receive. This will save block space and enhance privacy compared to making a payment in two steps. Additionally, it also offers an optional revenue-sharing feature that donates a percentage of proceeds to the HRF and OpenSats foundations.

CoinJoins for Privacy Enhancement

A Coinjoin is when two or more people combine their transactions into one transaction in such a way that it is unclear who owns which coin after the transaction. The BTCPay Server plugin allows users to pay addresses directly within a coinjoin transaction which will save block space and enhance privacy compared to making payments in two steps. Furthermore, merchants can also spend their coins based on gained anonymity scores using the coin selection interface provided by the plugin.

Choosing Coordinator Options

Merchants can choose to perform coinjoins with fees paid through coordinators provided by zkSNACKs or they can spin up their own coordinators using custom terms based upon Wasabi Wallet’s WabiSabi protocol. Furthermore, users are given access to dashboard which assesses level of privacy of wallets along with details about current coinjoin transaction being participated in providing more insights and control over payments made through coinjoins.


All BTCPay server merchants can now utilize new features offered by the framework including payment batching inCoinjoin,coin selection interfaceandarbitraryamountCoinjoinstoenhanceprivacyofpaymentsmadeonlinewithBitcoinalongwiththeoptiontousetheir owncustomcoordinatoriftheychooseto do so .

Take Control of Your Finances: The Time to Embrace Bitcoin is Now

• Banks are gatekeeping customers from buying bitcoin.
• Jamie Dimon’s comments sparked a policy that prevents Chase customers from buying Bitcoin on Cash App.
• It is time to take proactive steps towards permissionless, non-KYC Bitcoining.

Banks Are Gatekeeping Money

Just in case we needed a reminder, banks are showing us that they can and will gatekeep their customers’ money to prevent them from engaging with bitcoin. This should be a call to action for Bitcoiners or anyone else who wants to maintain control over their finances to move toward more proactive use of permissionless bitcoin tools and practices.

Jamie Dimon’s Comments

Ever since Jamie Dimon decried Bitcoin as a “hyped-up fraud” and “a pet rock,” on CNBC in late January 2023, I have found myself unable to purchase bitcoin using my Chase debit card on Cash App. And I’m not the only one — if you’ve been following Bitcoin Twitter recently, you may have seen Alana Joy tweet about her experience with the same. In both of our cases, it is the bank preventing bitcoin purchases and blocking inbound fiat transfers to Cash App for customers that it has associated with Bitcoin, all under the guise of “fraud protection,” of course.

Murky Policies

No one seems to know exactly when this became Chase’s policy. The fraud representative I spoke with wasn’t sure and couldn’t point to any documentation, but reasoned that the rule has been in place since early last year. Yet murkier still, loose chatter can be found on Reddit about this issue going back to at least April 2021. However, given that I and so many others were definitely buying bitcoin via Chase debit throughout 2021 and 2022, I’d wager that this policy, up to now, has only been exercised haphazardly, selectively

Grow Abundance in Your Urban Home: Urban Farming with Erin

• Erin started homesteading by accident after finding a Craigslist ad with no pictures and two sentences saying she will give cheap rent if the tenants feed the chickens.
• It turned out that the person who posted the ad was Novella Carpenter, an urban homesteader who wrote a book called “Farm City” in 2009.
• Erin and her boyfriend took on the challenge of tending to this backyard farm, which has been rewarding both personally and financially for them.

Starting Homesteading By Accident

Erin moved to the Bay Area about four and a half years ago when she and her boyfriend were looking for a place to live with a backyard. They came across an unusual Craigslist ad with no pictures saying someone needed a sublet for six months if they were willing to feed the chickens. After some back and forth, they found out that it was posted by Novella Carpenter, an urban homesteader who wrote a book called “Farm City” in 2009. Taking on this challenge of tending to this backyard farm seemed like too good of an opportunity to pass up, so they drove across country in their U-Haul and settled into their new home.

Unique Challenges & Advantages of Urban Farming

Urban farming comes with its own unique set of challenges — from managing pests in limited space, to getting access to water or soil amendments you need without having to buy large quantities at once — but also advantages as well. For example, since you are living on site you can easily keep an eye on your plants and animals throughout each day’s cycle for signs of distress or damage from critters or weather conditions. You also don’t have to worry about long drives or transport costs associated with rural farms. Additionally, there is something uniquely rewarding about producing abundance from such constrained spaces!

Paying It Forward & Reaching Kids Through TikTok

Not only does Erin take great joy in tending her urban farm but she also loves paying it forward by teaching others how they can do it too through workshops or via her TikTok account (@erin_landed). She believes that everyone should be able to learn how grow their own food regardless of where they live; if people know how easy it is then they won’t be as likely to depend solely on grocery stores during times of crisis (like what we are facing now). Additionally, she is reaching kids through TikTok videos showing them how fun growing things can be!

The Future For San Francisco & Bitcoin Astrology

Erin is cautiously optimistic about San Francisco’s future — especially as more people embrace sustainability initiatives like composting or permaculture farming which not only help reduce waste but also provide green job opportunities for those looking for new career paths outside tech industry jobs. We also talked about Bitcoin astrology — trying to forecast future price movements based on planetary cycles — which is something that has always intrigued her due to her background in earth science research!


In conclusion, Erin’s story inspiringly shows us how one can create abundance out of even very limited resources like a rented apartment with a small backyard in an urban area! She has embraced both challenges and rewards that come along with this type of lifestyle; from teaching others how easy it is grow their own food regardless where they live to exploring fascinating topics like Bitcoin astrology.

Luxor Launches First Ever ASIC RFQ Platform: Maximizing Market Transparency

• Luxor Technologies has launched the first request-for-quote (RFQ) platform for buying and selling Bitcoin mining hardware.
• This system will create a more liquid, easy to use marketplace for ASICs, while improving market transparency and access.
• The platform will offer major flexibility to buyers and sellers, allowing them to specify orders by quantity, condition, model type, location and more.

Luxor Launches First Ever ASIC RFQ Platform

Luxor Technologies has launched the first ever request-for-quote (RFQ) platform for buying and selling Bitcoin mining hardware with the goal of maximized market transparency and access. An RFQ is a marketplace where users can create orders (requests) for specific items. Luxor’s double-sided RFQ allows both buyers and sellers to create requests for Bitcoin mining ASICs.

Goal: Improved Market Access & Transparency

The idea behind this move is that it will create a more liquid and easy to use marketplace for ASICs — specialized machines specifically built to mine bitcoin. Using an open-bid system, ASIC traders can place requests and negotiate prices directly, improving price discovery and increasing liquidity in the secondary market. Prior to this market, ASIC traders have struggled with a fragmented and opaque over-the-counter market — so this new system should improve the transparency of the market while allowing for easier access and more precise pricing information.

Benefits For Sellers & Brokers

ASIC brokers will form the backbone of market makers on the platform, leveraging it to increase their deal flow and facilitate more transactions. The RFQ platform will also offer major flexibility to buyers, allowing them to specify orders by quantity, condition, model type, location and more; while sellers will be able to mix-and-match models from different manufacturers in their orders through its auction style bidding process.

Commitment To Transparency

Luxor is committed to providing transparent fees on its platform – they are volume based so that market makers can transact in a larger way that is profitable as well as efficient.


For those interested in learning more about Luxor’s RFQ Platform or contacting them regarding services offered on their platform can do so through their website or emailing sales@luxor.tech

Arizona Sen. Proposes Making Bitcoin Legal Tender

• Arizona state senator Wendy Rogers has proposed a set of bills to make bitcoin legal tender and allow for its acceptance by state agencies.
• The bills define bitcoin as a decentralized, peer-to-peer digital currency, and would let individuals and businesses use it to pay debts, taxes, fees, charges and other financial obligations.
• This is the second time Sen. Rogers has introduced such legislation in her state, following El Salvador’s adoption of bitcoin as legal tender and increasing interest in other US states.

Arizona Senator Proposes Bitcoin Legal Tender Bills

Sen. Wendy Rogers (R-AZ) has proposed a set of bills that aim to make Bitcoin legal tender in Arizona and allow state agencies to accept it as payment for debts, taxes and other financial obligations. These bills would recognize Bitcoin as a legitimate form of currency in the state.

Definition of Bitcoin

The legal tender bill specifically mentions Bitcoin by defining it as “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank.”

Acceptance Bill

The acceptance bill is more broad in scope, allowing “state agencies [to] enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method for fines, civil penalties or other penalties, rent, rates, taxes, fees charges revenue financial obligations and special assessments to pay any amount due to that agency or this state.”

Previous Attempts

This is not the first time Sen. Rogers has attempted to pass such legislation; she first proposed similar amendments back in January 2022 but they died during their second reading. However recent actions like those taken by El Salvador have proven beneficial for growth & investment opportunities within the country—leading many US states including Texas & Missouri show increased interest towards adopting Bitcoin too – further increasing chances for such bills getting passed eventually.


In conclusion Sen. Wendy Rogers’ proposal aims at recognizing Bitcoin as legal tender within Arizona – allowing individuals & businesses alike the option to use it for various financial obligations & payments without needing approval from any central bank or authority body – if successfully implemented this could prove highly lucrative for both citizens & businesses within Arizona alike .

Santiago Gives Sister the Orange Pill to Unlock Financial Freedom!

• Santiago Varela gave his sister an unusual gift of a copy of “The Bitcoin Standard” and a hardware wallet to show her the path to financial freedom and help her become a sovereign woman in a fiat world.
• He asked her to read a quote from the prologue of the book that pointed out the economic properties of the Bitcoin network and urged her to research and educate herself on it.
• Through a series of meetings and conversations, Santiago Varela was able to successfully orange pill his sister and show her how Bitcoin can be a positive force in her life.

Santiago Varela was determined to give his sister the best possible gift for her 18th birthday. It wasn’t a pair of shoes or a new computer, it was something much more special: the orange pill. To Santiago, this was the perfect way to set his sister on the path to financial freedom and help her become a sovereign woman in a fiat world.

To start the orange-pilling process, Santiago wrote his sister a letter explaining his gift and why it was so important to him. In the letter, he included a quote from the prologue of Saifedean Ammous’ book, “The Bitcoin Standard,” which reads: “This book does not offer investment advice, but aims at helping elucidate the economic properties of the network and its operation, to provide readers an understanding of what makes Bitcoin valuable, and to explain why it is important to consider using it.”

Once his sister had read the quote, Santiago began to discuss Bitcoin with her. He talked about the economic properties of the network, its decentralized nature, and the potential it holds for the future. He wanted her to understand the importance of Bitcoin and how it can be used to create a more equitable and secure financial system.

The orange-pilling process continued with a series of meetings and conversations. Santiago answered all of her questions and helped her understand the basics of Bitcoin. He even provided her with resources to help her learn more about the technology.

In the end, Santiago’s efforts paid off. His sister was now well-informed about Bitcoin and was beginning to understand its potential. She was no longer confused by the orange pill, but rather excited and eager to learn more.

Santiago’s gift to his sister was not only a copy of “The Bitcoin Standard,” but a deeper understanding of the technology and its potential. He had successfully orange pill her and set her on the path to financial freedom.

New Symbol for Sats Proposed, Receives Overwhelmingly Positive Response

• Arman The Parman, a Bitcoin educator, has proposed a new symbol for sats: a reverse “S” combined with a vertical line.
• The symbol references the 21 million Bitcoin hard supply cap, and is a horizontally-reversed dollar sign, representing the anti-dollar.
• There has been a very quick and overwhelmingly positive response to the symbol on Twitter, indicating that there is a good chance of widespread adoption.

Bitcoiners have been struggling to decide on a universal symbol for sats, the smallest denomination of a Bitcoin. Arman The Parman, a passionate Bitcoin educator, has come up with a suggestion that many have found to be perfect for the job.

The proposed symbol is a reverse “S” combined with a vertical line. The letter “S” resembles a number two, while the vertical line looks like a number one, making 21, a reference to the 21 million Bitcoin hard supply cap. Additionally, the symbol is a horizontally-reversed dollar sign, symbolizing the anti-dollar, or the dollar-killer.

The proposal has been met with an incredibly positive response on Twitter. People have commented that the reverse “S” and vertical line can also represent the first and last letters of “Satoshi,” while others have drawn similarities to Knut Svanholm’s “infinity” divided by 21 million meme.

Interestingly, a “2” was also suggested as a potential symbol, but it was deemed less aesthetically pleasing and less likely to be adopted by the community.

Overall, Arman The Parman’s suggestion for the sats symbol has been widely accepted, indicating that it may become the universal symbol for sats. If this is the case, it will be a symbol of the Bitcoin revolution, representing the anti-dollar and the 21 million Bitcoin hard supply cap.

MicroStrategy to Give Enterprises Bitcoin & Lightning Tooling in 2023

• MicroStrategy is planning to release Bitcoin Lightning Network-powered software applications and solutions in 2023.
• The company is exploring ways to provide enterprises with tooling for the Bitcoin and Lightning ecosystem, including online content monetization, enterprise marketing, web paywalls, and internal corporate controls.
• MicroStrategy’s upcoming Bitcoin event will feature a “Lightning for corporations” agenda to further explore and contribute to the ecosystem and drive greater adoption.

MicroStrategy, one of the world’s leading software firms, is looking to make a strong push into the Bitcoin and Lightning ecosystem in 2023. This was revealed by executive chairman Michael Saylor in a Twitter Spaces room on Wednesday, where he discussed the company’s plans for releasing software applications and solutions powered by the Bitcoin Lightning Network.

Saylor mentioned that as part of his transition from CEO to executive chairman, the company has been able to have a deeper focus on ways it can not only buy and hold Bitcoin but also contribute to the ecosystem. In order to do this, MicroStrategy can leverage its existing knowledge to provide enterprises with tooling for the Bitcoin and Lightning ecosystem. “We want to make it possible for any enterprise to spin up Lighting infrastructure in an afternoon”, Saylor explained, “and onboard thousands of employees or customers. We want to plug it into enterprise technology and make it a marketing strategy for any forward thinking CMO.”

MicroStrategy is exploring a wide range of services for the Lightning ecosystem, such as online content monetization, enterprise marketing, web paywalls, and internal corporate controls. Saylor believes that every chief marketing officer should be able give away satoshis –– Bitcoin’s smaller denomination unit –– as incentive for customers to post reviews or give feedback. He also noted that teams are working on the project and that the company expects to show something in the first quarter of 2021.

To further explore and contribute to the ecosystem, MicroStrategy will be hosting a Bitcoin event which will feature a “Lightning for corporations” agenda. This will give the company a greater platform to discuss and demonstrate its plans for the Bitcoin and Lightning ecosystem. It is hoped that the event will help to drive greater adoption among enterprises.

Overall, it is clear that MicroStrategy is looking to make a big statement in the Bitcoin and Lightning ecosystem in 2023. Its plans include providing enterprises with tooling for the Bitcoin and Lightning ecosystem, as well as hosting a Bitcoin event which will feature a “Lightning for corporations” agenda. If successful, this could provide a huge boost to the ecosystem, driving greater adoption and usage among enterprises.

Bitcoin For Fairness: Bringing Financial Sovereignty to the Global South

• Anita Posch, founder of Bitcoin For Fairness, travels to Zimbabwe to observe the need for Bitcoin in the Global South.
• She found a nation in distress due to a kleptocratic ruling elite that had been inflating the national currency for decades.
• Bitcoin For Fairness was founded to bring Bitcoin knowledge to the Global South, and was sponsored by LEDN, Okcoin, Paxful, Coinfinity, Breez and Trezor.

Anita Posch, the founder of Bitcoin For Fairness, has been traveling around the world to learn how the globally unbanked can benefit from sovereign money. During her first visit to Zimbabwe in early 2020, she found a nation in distress due to a kleptocratic ruling elite that had been defrauding and stealing from their people by inflating the national currency for decades. Military support allowed these leaders to stay in power for over 40 years, leaving the nation in a state of financial ruin.

At the time, there were few true believers and HODLers in Bitcoin, and the majority of people seemed to be more focused on trading and short-term profits, rather than learning and understanding the technology. Anita was inspired to found Bitcoin For Fairness, to bring Bitcoin knowledge and infrastructure to the Global South.

With the help of the Human Rights Foundation, LEDN, Okcoin, Paxful, Coinfinity, Breez, Trezor, Brad Mills, Peter McCormack, and many other Bitcoiners from around the world, Bitcoin For Fairness was able to launch a crowdfunding campaign on Geyser and secure over 500 donations. The donations were then used to build Bitcoin communities and infrastructure in the Global South, and to provide educational resources so that people can learn about and use Bitcoin for financial sovereignty.

Bitcoin For Fairness has been successful in its mission thus far, and is working to continue to expand its reach and educate more people in the Global South about the power and potential of Bitcoin. With the right education and support, Bitcoin can help to empower the unbanked and create a more financially equitable and just world.