After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K bitcoin that likely belongs to the Grayscale Bitcoin Trust (GBTC).
OXT Researcher Verifies Grayscale’s Bitcoin Holdings
Беш күн мурун, Bitcoin.com News билдирди on Grayscale disclosing information tied to the safety and security of the company’s digital assets. Grayscale’s statements were meant to assure the public that the company’s cryptocurrencies are “safe and secure” after the FTX collapse.
The digital asset fund manager detailed that all of the company’s digital assets are stored with Coinbase Custody Trust Company. On the Grayscale website, the firm says Coinbase Custody is a qualified custodian under New York banking laws and the funds are kept in “cold storage.”
The one thing Grayscale did not disclose is the company’s digital asset addresses and it did mention why it chose not to share the wallets. Grayscale explained that it has never publicly disclosed onchain addresses to the general public “due to security concerns.” The claim was criticized and мазактап, but Grayscale said that it understood the non-disclosure would be “a disappointment to some.”
Despite Grayscale’s non-disclosure, the OXT researcher (oxt.me) Ошентип, explained that it started a community-led effort to create transparency around GBTC holdings. “We have taken steps to ID likely GBTC addresses and balances based on public info and blockchain forensics,” Ergo мындай деди: Нояб 20 боюнча.
Leveraging an article from Coindesk, heuristics, and publicly known bitcoin addresses associated with the custodian Xapo, that day, Ergo “attributed 432 addresses holding 317,705 BTC to likely GBTC custody activity.”
The researcher discovered at least 50% of the GBTC holdings and Досторду кошо элек: “additional work is necessary to ID the remaining addresses.” By 2:49 p.m. (ET) on Nov. 23, Ergo said the additional work was finished in a Twitter thread called: “The Grayscale G(BTC) Coins Part 2” Ergo шопурлуктан:
In this analysis, we use additional [onchain] forensics to CONFIRM the approximate 633K BTC balance held by G(BTC) at Coinbase Custody.
Ergo’s summary notes that after discovering the first 50% of bitcoins associated with Grayscale’s BTC, the team had to ‘scan the blockchain’ for additional addresses fitting the profile of those found in Part 1.
Ergo further leaves independent analysts with information on the heuristics used жана биткойндор даректери compiled for the search. “Obviously no heuristic or set of heuristics are perfect, and this analysis certainly includes false positives and negatives,” Ergo деген. “But our result is almost identical to the G(BTC) self-reported holdings.”
In the Twitter thread, Ergo says that it doesn’t know why Grayscale decided not to share the company’s BTC addresses. Ergo said the team originally thought Coinbase Custody may have a non-disclosure policy. But after reading some information published by Coinbase, Ergo мындай деди: “it seems clear that Coinbase Custody is willing to disclose addresses.”
A сан адамдардын комплимент Ergo’s Twitter thread and analysis of the GBTC coins. Furthermore, the news follows Coinbase CEO Brian Armstrong explaining that as of Sept. 30, Coinbase holds 2 million bitcoin.
What do you think about Ergo’s onchain analysis of GBTC’s bitcoin horde? Let us know what you think about this subject in the comments section below.
Image насыялар: Shutterstock, Pixabay, Wiki Commons, Ergo BTC, Grayscale logo,
баш тартуу: Бул макалада маалымат максатында гана болот. Сатып алуу же сатуу боюнча сунушту түздөн-түз сунуш кылуу же кандайдыр бир өнүмдөрдү, кызматтарды же компанияларды сунуш кылуу же жактыруу эмес. Bitcoin.com түзүп, салык, юридикалык же бухгалтердик пикирин бере албайт. Да, коом да, жазуучу менен шартталган себеп же болжолдонуп жаткан ар кандай жоготуу же бул макалада айтылган ар кандай мазмун, же кызмат боюнча же көз каранды пайдаланууга байланыштуу, түздөн-түз же кыйыр түрдө жооптуу болуп саналат.
Source: https://news.bitcoin.com/onchain-analysis-verifies-the-number-of-btc-held-by-grayscales-bitcoin-trust/