Hi, everyone, welcome to our panel in the eye of the Crypto Storm.

I definitely would say that Michael's position in the industry is sort of like that at this moment.

So why don't we start with your lawsuit?

Okay.

Which is probably the biggest news about grayscale.

And as far as I understand, you filed a lawsuit because you felt that the SEC was not treating your application to turn GBT into a Bitcoin ETF the same way that it's treated

other investment vehicles.

I just could imagine, from a regulator's perspective, they might say, wow, look at the

sheer number of failures in crypto last year. And there's this alleged fraud that's just massive,

billions of dollars, plus taroluna collapsing. I mean, so many, so many failures. And so

they probably think that kind of like extra scrutiny is warranted.

So what would your response be to them? Well, so the timeline of our lawsuit and the issue that

we're litigating over is a little bit different than the recent collapses in crypto and

crypto winter. So at Gray Scale, our flagship fund

and our longest running fund is the Grayscale Bitcoin Trust.

And it's a product that was always conceived

to not only be in the public market,

but ultimately to be an ETF.

And when it progressed through Grayscale's,

you know, very regimented life cycle

and ultimately filed to become an ETF,

we got to the end of a road

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