This trust currently holds a value of approximately $1.6bn. In the filed lawsuit, Gemini petitions the court to cast a ruling stating Genesis has no right to the GBTC shares earmarked as collateral to users of the Gemini Earn product. Genesis or its partners still holds most of the shares in question. Gemini feels these…
Read more
A bankruptcy filing has been in the works for weeks after the bank froze all customer withdrawals on 16 November. The events followed the collapse of major crypto exchange FTX. The liquidity crisis also impacted Genesis’ partnership with Gemini, founded by the Winklevoss twins. The two companies had an agreement to offered a crypto lending…
Read more
Furthermore, SEC highlighted that in November 2022, Genesis announced it will not allow its Gemini Earn investors to withdraw their crypto assets as it lacked sufficient liquid assets due to volatility in the crypto asset market. The US regulator claims that the Gemini Earn program is essentially an offer and sale of securities under applicable…
Read more
Acting Director of Enforcement Gretchen Lowe Making false or misleading statements to the CFTC in connection with a futures product certification undermines the CFTC’s work to ensure the financial integrity of all transactions subject to the CEA, protect market participants, deter and prevent price manipulation, and promote responsible innovation and fair competition. This enforcement action…
Read more
The Swiss Exchange welcomed VanEck ETP AG as a new issuer of Exchange Traded Products (ETPs). VanEck ETP AG adds 4 new listings which makes a total of 100 ETPs and Structured Products with cryptocurrencies as underlyings are offered for trading at SIX Swiss Exchange. SIX has recorded trading volumes of CHF 4.6 billion on…
Read more
Shard X's MPC will work in combination with all other aspects of Gemini's custody offering, including role-based governance protocols, multiple layers of biometric access controls, and physical security to safeguard the sensitive key material, safely stored in government-rated hardware security modules (HSMs), that controls customers' assets. Tyler Winklevoss, CEO of Gemini, commented: Integrating MPC technology…
Read more
The multi investment bank is providing cash-management and dollar-based transaction services for the two exchanges’ US customers, as well as processing wire transfers and deposits and withdrawals using an electronic funds-transfer system. Coinbase and Gemini’s customers will be able to move money between their cryptocurrency accounts and their traditional bank accounts with the transactional services…
Read more
The Gemini exchange has just launched the Gemini Custody, an institutional grade custody solution that includes 18 digital currencies, one of which is the Ethereum token. All users on the exchange will be able to trade the cold crypto storage in custody immediately. In addition, Gemini Custody will also support 18 other currencies that are…
Read more
Global connectivity and IT infrastructure provider for the financial services industry, Avelacom, announced that it has added Gemini Trust Company, LLC, a digital asset exchange and custodian, to its list of cryptocurrency exchange tech vendors in Equinix’s NY5 data center. Avelacom’s and Gemini's clients can now connect directly to the exchange’s infrastructure to access market…
Read moreGovernor Andrew M. Cuomo today announces that the New York State Department of Financial Services (DFS) has granted authorization Gemini Trust Company, LLC to offer the trading of Ether, an emerging cryptocurrency, on its virtual currency exchange based in New York City. As a limited purpose trust company chartered under New York State Banking Law,…
Read more