The Winklevoss Twins are attempting to have a lawsuit filed against them by the U.S. Securities and Exchange Commission (SEC) dismissed. The lawsuit is in relation to their cryptocurrency exchange, Gemini Earn.
#Winklevoss #Twins #Exchange #Seek #Dismissal #SEC #Lawsuit #Gemini #Earn
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The SEC really needs to make up their mind on crypto. It’s as if they want to hold the US back.
This one doesn’t even make sense they didn’t sell anything in Gemini earn they just lent out the assets
tldr; Gemini Trust Co, an exchange run by the Winklevoss twins, has asked a US judge to dismiss a Securities and Exchange Commission (SEC) lawsuit claiming it illegally sold unregistered securities in a program that promised high interest rates to hundreds of thousands of investors. The SEC had sued over Gemini Earn, which let customers lend crypto assets such as bitcoin to Genesis, with Gemini taking an agent fee as high as 4.29%. Gemini said the loan agreements among itself, Genesis and customers were neither sold nor traded on secondary markets, and did not transfer title to assets, and therefore did not qualify as securities.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Is the SEC trying to make up rules on the spot? That’s what this sounds like.
tldr; The Facebook twins don’t want to lose money to SEC and said fuck off
Man, the crypto fan gensler is getting beatup from all sides now.
The SEC could just chill and collect billions in taxes with 0 work but nope, they are doing their best to make sure other countries get their money and company assets.
cute pic of them
I would like Kraken staking back. I don’t trust them and Coinbase to hold a little of my crypto. I still hold a tiny bit on exchanges just to diversify. No yield bullshit exchanges. Just Coinbase and Kraken.
Criminals