Crypto & Blockchain Daily Brief Saturday, July 20, 2024

Grayscale, a prominent cryptocurrency asset manager, has announced a full fee waiver for its Ethereum Trust (ETHE) up to a specific limit. The company stated that it would waive the entire management fee for the trust until it reaches $500 million in assets under management. This move aims to attract more investors to the trust and incentivize them to invest in Ethereum through Grayscale. The fee waiver is seen as a strategy to make the investment in Ethereum more appealing to potential investors, especially institutional ones who may be deterred by management fees. Grayscale believes that waiving the fees will encourage more investors to consider Ethereum as part of their investment portfolio, driving more capital into the market. Grayscale's Ethereum Trust allows investors to gain exposure to Ethereum without directly owning the cryptocurrency. The trust holds Ethereum on behalf of its investors, making it a convenient way for traditional investors to access the cryptocurrency market without the complexities of owning and storing digital assets. The fee waiver is a limited-time offer and will be in effect until the Ethereum Trust reaches $500 million in assets under management. Once the threshold is reached, the management fees will be reinstated. However, Grayscale's move is expected to attract a significant amount of capital to the trust during the fee waiver period, boosting the overall interest in Ethereum and the cryptocurrency market as a whole.

Ryan Selkis, the CEO and founder of crypto data provider Messari, has announced his resignation following a series of controversial tweets that sparked backlash within the crypto community. Selkis is known for his outspoken opinions and often used Twitter as a platform to voice his views on various topics related to the crypto industry. However, his recent tweets criticizing other projects and individuals led to accusations of spreading misinformation and engaging in unprofessional behavior. Selkis acknowledged that his tweets had caused harm to Messari's reputation and ultimately decided to step down as CEO in order to protect the company and its employees. He expressed regret for the impact his actions had on the organization and emphasized the importance of maintaining professionalism and respect within the industry. Despite his resignation, Selkis will remain involved with Messari in a different capacity, focusing on research and product development. He also stated that the company would be implementing new policies to ensure that similar incidents do not occur in the future. Selkis' departure from his role as CEO marks a significant change for Messari, which has become a prominent player in the crypto data space under his leadership. The company will now begin the search for a new CEO to take over Selkis' responsibilities and lead the organization forward.

The article discusses how the Winklevoss twins, known for their early involvement in Bitcoin, have donated $1 million in Bitcoin to a political action committee (PAC) that aims to unseat Senator Elizabeth Warren. The donation was made to the Stand For America PAC, which supports various conservative causes. This move is seen as a way to challenge Senator Warren, who has been critical of cryptocurrencies and has proposed legislation that could potentially impact the industry. The Winklevoss twins have been vocal advocates for Bitcoin and the cryptocurrency industry as a whole. By making this donation in Bitcoin, they are not only supporting a political cause but also showcasing the potential of the digital currency as a means of facilitating political donations. This move also highlights the twins' belief in the importance of protecting the cryptocurrency industry from regulatory threats. Senator Warren's stance on cryptocurrencies has raised concerns within the industry, as she has been a vocal critic of digital assets and has proposed legislation that could potentially stifle innovation and growth in the sector. The Winklevoss twins' donation can be seen as a way to push back against these potential threats and support candidates who align with their views on the future of cryptocurrencies. Overall, the article discusses the Winklevoss twins' $1 million Bitcoin donation to a PAC aiming to unseat Senator Warren, highlighting their support for the cryptocurrency industry and their efforts to influence political decisions that could impact the sector's future.