Today, Earn users received $2.18 billion of their digital assets in kind. These initial distributions represent:
• 97% of digital assets owed to Earn users
• $1 billion more than when Genesis halted withdrawals
• A 232% recovery from when Genesis halted withdrawals
This represents an unprecedented recovery among crypto bankruptcies, as well as bankruptcies in general, and follows our previous announcement that we reached a settlement in principle with Genesis and other creditors in the Genesis Bankruptcy, which will result in all Earn users receiving 100% of their digital assets back in kind.
This means, for example, that if you had lent one bitcoin in the Earn program, you will receive one bitcoin back. And it means that you will receive any and all appreciation of your assets since you lent them into the Earn program.
In order to ensure this successful resolution, Gemini has also contributed $50 million to the Earn users’ recovery.
We recognize the hardship caused by this lengthy process and appreciate your continued support and patience throughout.
Finally, it’s important to note that the Genesis bankruptcy was not a crypto problem. It was old-fashioned financial fraud compounded by a lack of regulatory clarity. To that end, we will continue to fight for clear rules and guidance for our industry that foster both innovation and consumer protection. And we will win this fight. The future is bright.
Full announcement here → https://t.co/SMbZHSCH5P
If @joebiden loses, there is a good chance you will be able to thank @GaryGensler and the @NewYork_SEC
Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD
All he has done is make it nearly impossible for legitimate crypto companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs.
This is also a warning to Congress. Crypto voters will be heard this election. You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them
Or you could do the better option and assign all crypto to be regulated by the @CFTC
They actually know what they are doing
@ericswalwell@SenSchumer
I just had 367 Rainbow Points dropped into my wallet — and an extra 61 Points as a bonus for migrating my MetaMask wallet into Rainbow 🦊 🔫
Everybody has at least 100 points waiting for them, but you might have more! Claim your drop: https://t.co/mgbICIf3gH
2024 is the year that will define the rest of my life.
Honestly, I’m scared. But also hopeful that this community cares with a passion.
Please donate towards my legal defense.
https://t.co/dQ7SCBesIm
Couldn't find any data from block explorers on @Solana about the amount fees paid to each block producer.
@DuneAnalytics AI query tool came in handy! https://t.co/qezwaxOW4A
Exploring the State of zkEVMs: The journey through 2023.
Below is the comprehensive guide to the progress of every major zkEVM project as we step into 2024 by our Co-Founder and CTO, @0xConnolly!
https://t.co/bQVYVAHu0u
I just claimed my #OndoPoints from @OndoFoundation! 🌊
Most stablecoin issuers keep all of the interest for themselves. Ondo has designed products to share the yield with token holders.
If you held stablecoins in 2023, you're eligible too!
Claim here: https://t.co/uagJuzP9wm
I just donated to American Cancer Society on @gitcoin's @grantsstack. Join me in making a difference by donating today, and check out the projects I supported on my Donation History page!
https://t.co/F2QiIWWBQK
@ericweinstein@bankless I love how Eric appears on all of my favorite channels (was randomly on Michael Palmisano’s?). If he comes on, don’t be afraid to go deep and leave us in the void - not asking typical questions, simplifying things, etc.