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Grayscale to Provide Documentation in Lawsuit Settlement with Fir Tree Capital Management

Fir Tree Capital Management and Grayscale Investments have settled a lawsuit filed by the hedge fund against the crypto asset management firm. The lawsuit, filed in December, sought information to investigate potential mismanagement and conflicts of interest. As part of the agreement, Grayscale will provide documentation around its flagship product, GBTC, which offers exposure to bitcoin in the form of a security. Fir Tree's original complaint alleged that Grayscale investors have been harmed by "shareholder-unfriendly actions" and called for redemptions of GBTC. Grayscale is committed to converting GBTC to an ETF and is suing the SEC to pave the way for the agency to greenlight its proposal.

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