GSR Co-founder Counters The Block Report And Asserts Unwavering Strength

Key Points:

• GSR’s co-founder counters downsizing reports, highlighting strong businesses, profitability during market turmoil, and strategic stability.
• Rosenblum challenges sensationalism and reaffirms the company’s enduring commitment to market-making amid personnel changes.
• Executive departures prompt streamlined operations, showcasing resilience and adaptability in turbulent markets.

In response to recent reports by The Block on August 15 regarding GSR’s downsizing, GSR’s co-founder, Rich Rosenblum, has taken to Twitter to address what he considers an unfair portrayal of the situation.

Contrary to the negative light painted by the article, Rosenblum asserts that GSR’s business remains robust, having weathered three bear markets without external funding. He highlights the company’s unwavering profitability and consistent market share expansion, regardless of market conditions.

Rosenblum expressed disappointment in how the report was framed, suggesting that the story seemed predestined to be pessimistic, irrespective of factual accuracy.

He dismisses attempts to sensationalize the situation by drawing parallels between personnel changes and strategic shifts during bear markets, labeling it irresponsible journalism.

Addressing the reported departures of multiple executives, Rosenblum emphasizes that GSR has experienced personnel changes over the past decade. He points out that these changes shouldn’t be misinterpreted as a reflection of the company’s stability or outlook.

Instead, he positions GSR as a steadfast market player poised to endure and thrive.

Furthermore, GSR’s co-founder affirms the company’s enduring presence, asserting that they are firmly grounded in the market. He proudly highlights the company’s longevity and well-funded status, positioning the company as a stalwart.

While acknowledging the challenges posed by the bear market, Rosenblum assures stakeholders that GSR’s strategic focus remains unaltered. The company is committed to streamlining operations and maintaining its position as a market maker.

The departure of executives, including those at the C-suite level, is depicted as part of the company’s calculated approach to adapting to changing market dynamics while upholding its core strength.

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