RABIT Weekly News (W4 November 2022)

Genesis is on the verge of possible bankruptcy. Genesis revealed to have approximately $175 million locked in an FTX trading account. It temporarily suspended any trading as it couldn’t retrieve the deposit from FTX, resulting in a coin plunge.
Grayscale GBTC premium marked a 42% fall. The proof of reserves of Grayscale has been in demand by investors, but Grayscale has yet to provide any.
The New York governor, Kathy Hochul, signed a two-year crypto mining moratorium bill. Fossil fuel power plants for cryptocurrency mining can have a negative impact on the environment.