Gemini’s Winklevoss twins want to ‘raise’ the crypto bar
During the recent summit of the cryptography of the White House, Tyler and Cameron Winklevoss, co-founders of Gemini, thought about their tumultuous journey of regulatory maintenance at the highest table of cryptocurrency policy.
Crypto Czar David Sacks addressed the question directly to Cameron Winklevoss.
“I think you said something earlier than I was thinking of being really deep,” Sacks said on Friday. “You said a year ago, you thought it would be more likely for you to meet in prison than in the White House.”
Cameron said that it was in fact his twin brother Tyler who made the declaration, declaring: “We never thought that we would have attacked as we did in our backyard after trying to do the right thing for so many years and always try to raise the bar with respect for the regulations.”
“And we have always felt that the United States should lead to Bitcoin and Crypto, and it is up to us to direct and win,” he continued.
‘It’s the law’
The Twins Winklevoss were examined for their crypto exchange, the Gemini, mainly due to the problems surrounding the Gemini Gage program.
Gemini wins authorized users to gain interest by lending their cryptographic assets to Genesis Global Capital, a subsidiary of Digital Currency Group (DCG). When Genesis interrupted withdrawals in November 2022 due to the agitation of the market following the collapse of the FTX, users of Gemini cannot access around $ 900 million in funds.
The situation intensified while Gemini and Genesis were prosecuted by the American Securities and Exchange commission (SEC) in January 2023. alleged That Gemini Gagne was an unregistered offer of titles, violating the laws on securities. In addition, the public quarrel between the twins Winklevoss and Barry Silbert, CEO of DCG, added to the meticulous examination, the twins accusing Silbert of deceiving them and the public on the financial health of Genesis.
In August 2023, Gemini, Genesis and DCG reached an agreement to recover certain funds for affected users, but the situation left lasting reputation and regulatory challenges for Winklevoss twins and Gemini.
Last year, Genesis agreed to pay a civil sanction of $ 21 million to settle the accusations that she is committed to the unregistered offer and the sale of securities through the cryptographic asset loan program.
Gary Gensler, who directed the dry at the time, said that the regulations “are based on previous actions to clearly indicate” that crypto loan platforms “must comply” with securities laws.
“It best protects investors,” added peopleler at the time. “It promotes confidence in markets. It is not optional. It is the law.
Today is a different scenario. Mark T. Uyeda is the new acting president of the dry. He was sworn for the first time as a commissioner on June 30, 2022.
Uyeda should serve until the Senate votes to confirm Trump’s candidate Paul Atkins, as president of the committee.
To say that Uyeda and Atkins are Pro-Crypto is an understatement. Since Trump was elected, numerous proceedings and surveys on Crypto -related companies have ended. Coinbase, Kraken and Yuga Labs are only three companies to benefit from a president who not only supports cryptocurrencies, but has his own same.
Bitcoin Strength Matches 2022 Bourse Market
The cryptocurrency administration by the Trump administration occurs while Bitcoin plunged below $ 85,000. The technical analyst Rekt Capital noted that the recent drop in Bitcoin brought its relative force index (RSI) to 23.93, of the correspondence levels observed during the 2022 bear market.
This monitoring condition is generally followed by an upward price movement. He also pointed out that “throughout this cycle, each visit to the Sub25 RSI led to an upward trend reversal over time.”
Last verification, Bitcoin (BTC) is negotiated in the red at $ 83,550.
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