SXSW Secrets

Austin Texas #Crypto and #Tech enthusiast

[nate @natemcguire]

My statement on the Love Austin's filing, and subsequent withdraw, of their Texas Ethics Commission complaint.

Let’s Keep Austin Free — Not Fearful

Austin has always been a city that celebrates individuality. From the students and artists keeping our culture vibrant to the families and retirees who give our neighborhoods heart, we’ve prided ourselves on being a community where everyone belongs - where creativity, free expression, and mutual respect define who we are.

That’s why it’s deeply troubling to see a (almost entirely) taxpayer-funded campaign attempt to intimidate a private citizen for speaking out against a massive tax increase. Their recent press release isn’t just an attack on one person - it’s an attack on the spirit of Austin itself.

In this city, we don’t silence people for having opinions. We listen. We debate. We respect that everyone - from musicians on South Congress to tech founders downtown - has a stake in the future of our community. Trying to shame and pressuring a resident who dares to question government over spending isn’t civic engagement; it’s bullying.

Let’s be clear: my position isn’t about being anti-Austin. It’s about protecting the Austin we love. Proposition Q will make our city unaffordable for the very people who make it special - the students, the teachers, the retirees, the working families, and yes, the musicians who give this town its soul.

A city that prides itself on “keeping Austin weird” and claims diversity as a strength shouldn’t punish people for speaking their minds. A campaign group supported by our Mayor and most of the City Council should disavow such intimidation tactics instead of leading them. Freedom - of thought, of art, of expression - is what has always made this city great. We can’t afford to lose that, just as we can’t afford yet another tax hike that pushes our neighbors out of their homes.

Austin stands for openness, for conversation, for community. Let’s reject intimidation - and reject Prop Q - so we can keep our city affordable, and unmistakably Austin.

Learn more at: https://t.co/KLXxljNhdl

PS — I'm still not happy with how @joecascinotx is subtly accusing me of breaking the law in his retraction — not great Joe, not great.

[SXSW Secrets @SxswSecrets]

@Lunayian Yes on #1 - @Meta has spent billions on VR and yet they can't add a simple mute to a virtual space... like I'm trying to work in a virtual space and they have annoying bird tweets and bubble noises going on constantly. I want sound on, just not background sounds! #help #fix

[SXSW Secrets @SxswSecrets]

@TuckerCNews My understanding is that EU has some better sunscreens (and regulations against dyes, food additives, etc.) but for some reason FDA hasn't approved these less toxic sunscreens here - not sure if it is big business, etc. but if EU approves a drug it likely is safer than our stuff

[SXSW Secrets @SxswSecrets]

@AustinFireInfo What was the specific "accident"??? Space heater? Candles? Cooking? Smoking? - sometimes publicizing specific cause can be a cautionary reminder to others - particularly those that live in multifamily communities.

[SXSW Secrets @SxswSecrets]

@sycho7_ @Golden_Reviewer Sorry it's not quite clear "what works" when it's not "generally sold" in a region. Yes, US isn't only county on earth - but it's where I live and I want a phone that works where I live - I searched and it's not clear if it's readily available here in TX

[SXSW Secrets @SxswSecrets]

@tyler @GaryGensler @SECGov "Good actors" would voluntarily pay #GeminiEarn customers the post-freeze interest they deserve! It was the #GeminiEarn program not GeminiCharity - & you bungled everything including the program setup & also the T2 collateral - we want 18+ months of interest that you owe us!!

[SXSW Secrets @SxswSecrets]

@GeminiTrustCo So you do not deny the NYAG allegations about lying to your customers about the risk involved in your security offering despite being a fiduciary trust company????

[SXSW Secrets @SxswSecrets]

@JackBaughman27

[SXSW Secrets @SxswSecrets]

@GeminiTrustCo Great, where is the interest for the last 18 months that we were held hostage in this bankruptcy??? We were in a Gemini Earn interest program, not a charity - as issuers of GUSD you actually made interest on our frozen GUSD assets.

[SXSW Secrets @SxswSecrets]

@crypto_equality @JackBaughman27 Wrap it up with interest for period our Gemini Earn assets were held!!

[SXSW Secrets @SxswSecrets]

@JackBaughman27 That said, per the stipulation you are not allowed to deny or imply denial of the allegations of wrongdoing against Gemini made by NYAG - including not disclosing "Genesis junk status" to customers despite being a fiduciary trust company - pay interest for last 18 mths or be sued

[Gemini @Gemini]

Welcome to #GeminiGiveaways✨ our new giveaway series. To celebrate Bitcoin Pizza Day, we’re giving away $500 in #BTC to 1 new or existing Gemini user 🍕

MUST follow the rules to enter: https://t.co/xb3RZcfr3d

[Brian C. @Brian_Chancey]

@Gemini 1: I wish I hadn't taken part in #GeminiEarn
2: I wish @tyler @cameron would quit dragging their feet and pay back THEIR customers within a week of May 4th
3: I wish other #GeminiEarn customers would RT this and hold @GeminiTrustCo to the fire to resolve this before early June!

[Brian C. @Brian_Chancey]

@Gemini "early June" is simply not acceptable for the return of #GeminiEarn customers funds! It should be within a week of the May 4th date... you should have a gampelan ready to go, and ready to respond! We have waited long enough! NO MORE DELAYS! @NewYorkStateAG @tyler @cameron #crypto

[SXSW Secrets @SxswSecrets]

@ramahluwalia Perhaps if @Gemini or media had asked the simple question of "how did DCG fill the 3AC hole?" - the question you asked @michaelmoro on July 6, 2022 that went unanswered - none of us would have been in this bankruptcy in the first place!

[SXSW Secrets @SxswSecrets]

@ramahluwalia Thank you Ram for all you've done to help Gemini Earn customers through this entire mess!! Your attention to the matter and helpful deep analysis has been priceless!!

[Ram Ahluwalia CFA, Lumida @ramahluwalia]

A Beautiful Ending to the DCG - Genesis Saga (First Season)

We did it :)

Creditors will be made effectively whole (97% recovery) with additional remedies on the way.

The upside? Gemini Earn & Creditors will receive in-kind distributions — they were forced long, by hook or crook, the best performing asset class.

In a twist of fate, the bankruptcy prevented anyone from selling at the bottom.

And, the NYAG civil complaint alleging fraud against DCG continues…

I am truly happy for the families involved

The big lessons:

(1) We need decentralized trustless systems to remove counterparty risk and create transparency

How many times must the same lessons be learned: ABS 2008, Libor rigging, Madoff, Genesis, MF Global, etc

(2) I don’t trust @BarrySilbert.

He’ll have his day in court with the NYAG in Season 2

My opinion is that DCG is a modern day Enron.

The NYAG’s fraud allegations seem
to me consistent with that view

(3) Be skeptical of non-banks pretending to be banks

h/t @crypto_equality for your leadership

[SXSW Secrets @SxswSecrets]

@atxREpodcast Contrary to @ParkerCWelch post, it does seem to be a nightmare backup at 3:45pm - red the whole way. Part of reason for no bikes is that "hike and bike trail" is nicer for most bikers coming from most places - only Bouldin does it make sense to take BSR and not enough bikes there

[SXSW Secrets @SxswSecrets]

@cryptowatchdoge @cameron Sounds like a breach of fiduciary duty by concealing a material fact - as a registered trust company @Gemini has fiduciary duty to all customers!! Seems that #breach and #fraudulent concealment is actionable regardless of what your #scammy click through MLAs said #ReturnTheEarn