Crypto of the Week Twitter: Gemini vs Genesis, Week 2: SEC Intervention

Two full weeks into 2023, the patience and resilience of crypto fans Rewarded Big price increase after a long time. Most of the top cryptocurrencies by market capitalization have surged in double-digit percentages over the past seven days.

But no one has left the forest yet. On Monday, Fox News journalist Charles Gasparino leaked the latest gossip from his extensive and far-reaching FTX case.

security researchers and Forbes 30 Under 30 Winner Jane Manchun Wong reported earlier in the day that Twitter wants to join the coin movement and appears to be preparing its own digital economy.

Minnesota Congressman Tom Emer has finally received a response from the authorities after sending a letter last fall criticizing the government’s decision to ban crypto-privacy tool Tornado Cash. Told Emmer he couldn’t comment on the pending lawsuit, Emmer said he would be happy to ask questions at a hearing before the House Financial Services Committee.

It may be because of his bitcoin buying habits millions of dollars lost However, El Salvador’s authoritarian President Naive Bukele wanted everyone to know on Wednesday that he is still selling for bitcoin and is taking the law to the next level to prove it. sea ​​bream.

That day, the MetaMask Support Twitter account warned users about a new style of exploit.

On Friday, Crypto.com co-founder and CEO Kris Marszalek announced that the exchange is about to cut its workforce for the third time. from Juneciting “negative economic development”.

Finally, we would like to inform you that Sam Bankman-Fried has a blog.

Gemini vs Genesis: Week 2

The aftermath of FTX’s demise is still reverberating across the industry, spreading contagion, as highlighted by the new feud. last week Between cryptocurrency exchange Gemini and its creditor Genesis, it allegedly owes users of Gemini’s Earn products $900 million.

Gemini co-founder Cameron Winklevoss sent Barry Silbert, chief of Digital Currency Group (DCG), who owns Genesis wholly.another It issued an open letter this week, hurling further accusations of fraud, lies and greed. The DCG account called his allegations “a desperate and unconstructive publicity stunt.”

Later that week, Silbert shared a “letter to DCG shareholders” in which he invoked “bad actors and blow-ups” that “wreak havoc on our industry.” He went on to say that the industry’s “credibility and reputation” were all but destroyed “by an unprecedented wave of fraud and criminal activity” this year. Silbert published an abridged version of the letter in a subsequent thread.

Filed on Thursday with the U.S. Securities and Exchange Commission (SEC) involved new set of fees Both Gemini and Genesis objected to alleging that Gemini’s Earn products were unlicensed securities.

Gemini co-founder and CEO Tyler Winklevoss was quick to respond, saying,opposite effect” Moved by SEC. Later in the thread he said Winklevoss is looking forward to helping Gemini defend themselves against this “manufactured parking ticket.”

Minnesota Republican Rep. Tom Emmer strongly criticized the SEC’s approach.