So when will Gemini fess up and do the right thing by paying in full it’s Earn users? See below from the NY AG lawsuit.
Gemini should pay up now in coins not cash and take assignments from its Earn users’ for their claims. It then can waste its resources suing Genesis and DCG.
@ramahluwalia Genesis’ creditors should push DCG into or near involuntary chapter 11 to get the cash cow crypto assets that DCG has in Grayscale Investments to make the Genesis creditors whole. Enough of this Barry shell game nonsense.
@Geminiearn@Gemini@tyler@cameron@ramahluwalia@BarrySilbert Genesis supposedly can pay 80% back with BTC at 21k on the 900 M owed to Gemini
Earn customers. Now it's at 28k --it is up 35% from 21k. Someone is banking 15% above the 900M owed or 135M. And it's not the Gemini Earn users.
@cameron@tyler@BarrySilbert@Gemini@GenesisTrading What’s the plan to release or reimburse the crypto that you stole from Earn customers in November? Maybe 340,000 fraud lawsuits in 100’s of jurisdictions? Plus bankruptcy fraud claims by Earn customers? Time to lawyer up.
As for the Winklevoss twins, they have ample resources if they choose to backstop Gemini. They are currently worth nearly $6 billion, according to Bloomberg. They own 70% of Gemini, which is expected to make several hundred million in revenue this year.@cameron@tyler@Gemini
@ramahluwalia Gemini’s risk manager’s concerns in August along with other suspicions earlier should have triggered Gemini shutting down or suspending the Gemini earn program with Genesis. @cameron@tyler@Gemini
@ramahluwalia Looks like Gemini had lots of red flags going off way before 11/2022 about Genesis insolvency issues to cancel the Earn program way before FTX collapsed.
@cameron Soooo�� when will Gemini give us our held hostage coins back? Great scam: give us your coins and you’ll “earn” interest but really we will just steal your coins without due diligence of the thief’s over at Genesis. Gemini was supposed to be the answer to Mt. Gox not another one.