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Three Arrows Capital OTC Platform Pitched Investors in GBTC-Related Carry Trades Before Crisis Hit

By WebsCryptoJune 18, 20221 Min Read
Three Arrows Capital OTC Platform Pitched Investors in GBTC-Related Carry Trades Before Crisis Hit
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According to investment documents obtained by The Block, OTC firm TPS Capital, run by Three Arrows founders Su Zhu and Kyle Davies, was pitching investors a new carry trade, known as Grayscale Bitcoin Trust GBTC, to investors before the crisis hit. arbitrage opportunities, the company plans to charge a 20% management fee through an affiliated OTC firm.

ETF analyst James Seyffart explained: “This operation is the equivalent of structured notes in traditional finance, but no matter what happens, they take ownership of your Bitcoins and also make money on your BTC. They get your BTC. , and in either case take money/return from investors.”

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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