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☆ Bitcoiners celebrate as $40 million campaign brings down Ohio Sen. Sherrod Brown
▼ + stars: | 2024-11-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Republican nominee for U.S. Senate Bernie Moreno addresses supporters at Brecksville Community Center on November 4, 2024 in Brecksville, Ohio. He voted against pro-crypto legislation, called for more regulation of the sector, and regularly posted anti-crypto rhetoric on social media. According to the tracker, 224 pro-crypto candidates have been elected to the House, against 106 anti-crypto House candidates that have won. In the Senate, 14 pro-crypto candidates have been elected, while nine anti-crypto candidates have been victorious. "Americans disproportionately care about crypto and want clear rules of the road for digital assets," Armstrong wrote.

Persons: Bernie Moreno, Crypto, Sherrod Brown, Brown, Moreno, Sen, Elizabeth Warren, Chris Larsen, Joe Biden, Warren, I'm, Tyler Winklevoss, Gary Gensler crony, Winklevoss, Brian Armstrong, Armstrong, Coinbase, Gensler, Elect Moreno's, Bitcoin, Donald Trump Organizations: U.S, Brecksville, Center, Ohio Senate, U.S . Senate, CNBC, Politico, SEC, Senate, Crypto Alliance, NBC, Commodities, Trading Commission, Fairshake, Defend, Jobs, Republican, —, Yildirim Locations: Brecksville , Ohio, Ohio

☆ A pro-Trump PAC has received millions in crypto donations since June
▼ + stars: | 2024-10-16 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

A pro-Trump PAC has raised more than $7.5 million in cryptocurrency donations since June. Trump 47 PAC raised the amount in bitcoin, ether, USDC, and other cryptocurrencies, per FEC filings. AdvertisementA political action committee called Trump 47 has raised $7.5 million in cryptocurrency donations for former President Donald Trump's White House bid. According to Federal Election Commission filings on Tuesday, the Trump 47 PAC received donations in bitcoin, ether, XRP, and other cryptocurrencies. But in May, Trump hosted an event in Mar-a-Lago, where he said he would accept cryptocurrency donations for his campaign.

Persons: —, Donald Trump's, Cameron, Tyler Winklevoss, Trump, I've, cryptocurrency, bitcoin, he'll, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Elon Musk, Kamala Harris, Mark Cuban, Cuban Organizations: Trump PAC, Trump, PAC, Service, Federal, Records, Liberty, AFP, Fox Business, United, FEC, America, America PAC — Locations: United States, Mar, Nashville

☆ 2024 Election: Crypto Bros Could Swing Votes Toward Kamala or Trump
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. In September, he unveiled his own crypto venture, World Liberty Financial. The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

☆ Crypto spending on 2024 election hits $190 million, led by Winklevoss twins
▼ + stars: | 2024-09-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

The Winklevoss twins, Coinbase and Ripple didn't immediately respond to requests for comment. Huge jump from 2020Delmore, who has been assembling reports on crypto donations in the 2024 election for blockchain analytics platform Breadcrumbs, told CNBC that industry spending is nearly double where it was in the mid-terms — more than $190 million in the 2024 election versus $98 million in the 2022 election. It's nearly 13 times spending in 2020 of $15 million — a figure based on a mix of data from FEC and OpenSecrets filings. Unlike the past two election cycles, which featured spending from the now-bankrupt crypto exchange FTX and founder Sam Bankman-Fried, this year's contributor list is more robust and diverse. "Most of the crypto donations in 2022 were from FTX and SBF and almost all of them went to Democrats or PACs that support Democrats," Delmore said.

Persons: Tyler Winklevoss, Cameron Winklevoss, Joe Raedle, Cameron, James Delmore, Donald Trump, Chris Larsen, Brad Garlinghouse, Ro Khanna, John Deaton, Democratic Sen, Elizabeth Warren, Stuart Alderoty, Alderoty, Ripple, David Sacks, Trump, Gary Gensler, Gensler, Harris, Biden, Delmore, It's, Sam Bankman, Fried, Andreessen Horowitz, Coinbase, Coinbase's Organizations: Gemini, Mana Convention, Getty, CNBC, Trump, Republican, Trump America PAC, Fairshake PAC, Labs, Democratic, SEC, San, FEC, Citizen, Fairshake, Bloomberg, Crypto Alliance, DC Locations: Wynwood, Miami , Florida, bitcoin, Massachusetts, San Francisco, FTX

☆ How an Elon Musk-backed PAC is gathering data to boost Trump
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.nbcnews.com time to read: +8 min

How do I start?”The ad then displays a website for a group called America PAC. “I have created a PAC, or a super PAC ... the America PAC,” Musk said in a recent interview. But what is unique about America PAC’s project is who is backing it and the timing of its creation. The America PAC raised over $8 million between April 1 and June 30, according to FEC records. He recently said on X that he is “making some donations to America PAC,” but did not say how much.

Persons: “, Donald Trump, Trump, they’ll, Elon Musk, Kamala Harris, ” Musk, Musk, ”, Brendan Fischer, Fischer, ” Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale, Harris, Daniel Weiner, Brennan, Matthew Baum, Baum, Weiner Organizations: Google, America PAC, Tesla, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, “ America PAC, Trump, The New York Times, FEC, Harvard Kennedy School Locations: Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin, America, Trump

☆ How an Elon Musk PAC is using voter data to help Trump beat Harris in 2024 election
▼ + stars: | 2024-08-02 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

The ad then displays a website for a group called America PAC. "I have created a PAC, or a super PAC ... the America PAC," Musk said in a recent interview. But what is unique about America PAC's project is who is backing it and the timing of its creation. He recently said on X that he is "making some donations to America PAC," but did not say how much. Musk on X mirrors Musk PAC

Persons: Elon Musk, The Beverly Hilton, David Swanson, Donald Trump, Trump, they'll, Kamala Harris, Musk, Brendan Fischer, Fischer, Phil Cox, Generra Peck, Dave Rexrode, Doug Leone, Cameron, Tyler Winklevoss, Joe Lonsdale, Lonsdale Organizations: SpaceX, Tesla, The Beverly, Reuters, Google, America PAC, Republican, Democratic, Forbes, PAC, Facebook, YouTube, America, Trump, The New York Times, FEC Locations: Beverly Hills , California, U.S, Michigan, California, Wyoming, Pennsylvania, Georgia, Arizona , Michigan, North Carolina , Nevada , Pennsylvania, Wisconsin

☆ Bitcoin tests $70k after Trump says US will be 'crypto capital of the planet'
▼ + stars: | 2024-07-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

During remarks over the weekend, Donald Trump said he wants to make the US a "bitcoin superpower." Trump said he has raised $25 million in crypto donations over the last two months. AdvertisementDuring remarks a weekend bitcoin conference, presidential hopeful Donald Trump pledged to make the US the "crypto capital of the planet, and the bitcoin superpower of the world" if elected in November. Kennedy, a staunch crypto supporter, said Trump's policies while in office capped the currency's growth and reminded the audience that Trump once called Bitcoin "a scam against the dollar." AdvertisementTrump's comments follow his party's recent growing support for crypto.

Persons: Donald Trump, Bitcoin, Trump, —, Gary Gensler, Robert F, Kennedy Jr, Kennedy, Ross Ulbricht, he's, He's, Cameron, Tyler Winklevoss Organizations: Service, SEC, Twitter, Gemini, Trump, Assets, Government Surveillance Locations: Nashville

☆ Donald Trump once trashed bitcoin as ‘based on thin air.’ Now, he’s addressing crypto’s largest convention
▼ + stars: | 2024-07-27 | by ( Steve Contorno | Aaron Pellish | ) edition.cnn.com time to read: +8 min

Trump’s campaign would not say what sparked the former president’s 180-degree turn on bitcoin. Billionaire crypto tycoons Tyler and Cameron Winklevoss each pledged to donate $1 million worth of bitcoin to Trump’s campaign. The cryptocurrency industry has experienced a resurgence since the downfall of FTX. Trump supporters were not hard to find inside the Bitcoin Conference. Luke Broyles, a 25-year-old Michigander working in the crypto industry, was similarly unsure of Trump’s latest entreaties despite his recent rhetoric.

Persons: Donald Trump, Trump, bitcoin “, ”, ” Trump, Jacob Silverman, bitcoin, Sam Bankman, Larry David, Tom Brady, Fried, Brian Hughes, South Carolina Sen, Tim Scott, ” Scott, David Bailey, Bailey, cryptocurrency, tycoons Tyler, Cameron Winklevoss, Cryptocurrency, Ohio Sen, JD Vance, David Sacks, Biden, ” Sacks, “, ” Tyler Winklevoss, Eric Soufer, cryptocurrencies, ” Soufer, FTX, Robert F, Kennedy Jr, John Fischer, ” Fischer, Luke Broyles, Trump’s, ” Broyles Organizations: Nashville CNN, Twitter, United States, Biden, Capitalism, CNN, Republican, Trump, South, BTC Inc, Mar, Commission, Billionaire, Music City Center, Independent, Pew, Libertarian Party, Bitcoin Conference Locations: USA, Nashville, United States, Wisconsin, St, Cloud , Minnesota, South Carolina, Silicon, Washington, Atlanta, cryptocurrency

Trump, the Republican nominee for president, has raised more than $4 million from a mix of digital tokens, a campaign aide told CNBC. At least 19 donors contributed more than $2.15 million bitcoin to the committee, the filing shows. Brian Hughes, a Trump campaign aide, said that of the more than $4 million in crypto raised, most of it arrived in bitcoin. "While the Biden-Harris Administration stifles innovation with more regulation and higher taxes, President Trump is ready to encourage American leadership in this and other emerging technologies." Thus far, it appears the Trump campaign is mostly converting these contributions immediately to USDC and then liquidating the donations.

Persons: Donald J, Trump, Bill Pugliano, Donald Trump, Tyler, Cameron Winklevoss, Mike Belshe, Tyler Winklevoss, Eva Marie Uzcategui, he's, Marc Andreessen, Ben Horowitz, Brian Hughes, Kamala Harris, Hughes, Harris, shiba inu, Jesse Powell, Stuart Alderoty, Alderoty, David Sacks, Ryan Selkis, Sen, Elizabeth Warren, Warren, Ohio Sen, JD Vance, Vance Organizations: Van, Getty, NASHVILLE, Republican, CNBC, U.S, Trump, Republican National Committee, State Department, Gemini Trust, Bloomberg, Solana, Bitcoin, Music City Center, Democratic, Biden, Harris Administration, IRS, Libertarian National Convention, Ohio, Biden White, SEC Locations: Grand Rapids , Michigan, Tennessee, bitcoin, Miami , Florida, U.S, Nashville, San Francisco, USDC, Washington, Lago, Florida

☆ Elon Musk plans to give $45 million a month to pro-Trump super PAC, WSJ reports
▼ + stars: | 2024-07-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. Elon Musk has said he is planning to pledge about $45 million a month to a newly formed super PAC backing former President Donald Trump's White House bid, the Wall Street Journal reported Monday, citing people familiar with the matter. Musk had not given any money to that group, called America PAC, as of the end of June, according to a quarterly financial filing submitted to the Federal Election Commission on Monday evening. Emails to Musk's associates were not immediately returned late Monday. But the super PAC, which was formed in late May, has received contributions from other high-profile entrepreneurs, including Palantir co-founder Joe Lonsdale and crypto billionaires Cameron and Tyler Winklevoss, the filing showed.

Persons: Elon Musk, Mark Read, Donald Trump's, Musk, Palantir, Joe Lonsdale, Cameron, Tyler Winklevoss Organizations: Cannes Lions, PAC, Wall Street, America PAC, Federal Locations: Cannes, France

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ Winklevoss crypto firm customers will get back triple the value of their frozen assets
▼ + stars: | 2024-05-29 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

More than 230,000 Gemini customers lost access to approximately $940 million worth of digital assets. In the year and a half since then, crypto has staged a comeback, bringing the value of the frozen funds to $2.18 billion. Wednesday’s announcement accounts for the appreciation of value in crypto, adding more than $1 billion to the total. At the time FTX imploded, causing chaos in crypto markets, bitcoin sank precipitously to around $17,500. Earn customers can expect to receive their remaining asset balance within the next 12 months, Gemini said.

Persons: Cameron, Tyler Winklevoss, ’, ” Cameron Winklevoss, Gemini Organizations: New, New York CNN, Gemini, New York Department of Financial Services, bitcoin, FTX Locations: New York

☆ Crypto exchange Gemini returns $2.2 billion to users after pausing withdrawals 18 months ago
▼ + stars: | 2024-05-29 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Customers with funds locked up in crypto exchange Gemini's defunct crypto lending program are finally going to start getting their money back. The email adds: "This means that if you lent one bitcoin in the Earn program, you will receive one bitcoin back. At $2.18 billion, the fund distribution represents a 232% recovery for users since Gemini froze withdrawals for customers of its Earn program 18 months ago. Gemini then lent customers' crypto to institutional borrowers through Genesis Global Capital, its lending partner of choice. In November 2022, Genesis Global Capital paused new loan originations and redemptions, forcing Gemini to halt withdrawals from its Earn program.

Persons: Tyler Winklevoss, Cameron Winklevoss, Cameron, Genesis, Gemini, Letitia Organizations: Gemini, Mana Convention, Genesis Global Capital, New York Locations: Wynwood, Miami , Florida, Manhattan

☆ The Winklevoss twins just invested millions in a tiny British soccer club
▼ + stars: | 2024-04-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Cameron and Tyler Winklevoss, the billionaire twins known for suing Mark Zuckerberg for allegedly stealing their idea for Facebook, are investing millions of dollars into a small English soccer club. The twins, who today run the crypto exchange Gemini, announced Friday that they've invested $4.5 million worth of bitcoin in Real Bedford Football Club (RBFC), making it the "first football club powered by bitcoin," according to a statement Friday. RBFC, a non-league, semiprofessional club from Bedford, England, was purchased in 2022 by bitcoin investor and podcaster Peter McCormack. The latest deal will see the Winklevoss twins serve as co-owners of RBFC, alongside McCormack, a lifelong Bedford resident.

Persons: Tyler Winklevoss, Cameron Winklevoss, Cameron, Mark Zuckerberg, they've, RBFC, podcaster Peter McCormack, McCormack Organizations: Facebook, Real Bedford Football Club, Bedford, CNBC Locations: Miami , Florida, Real, Bedford , England, bitcoin

☆ Crypto exchange Gemini to pay $1.1 billion back to customers
▼ + stars: | 2024-02-29 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

CNN —Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least $1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator. NYDFS has the right to “bring further action against Gemini if the company does not fulfill its obligation,” it said in the statement. In a Wednesday blog post, the crypto exchange said that due to the settlement, customers of its lending program, Gemini Earn, would receive 100% of their digital assets back in kind plus any appreciation in value. Gemini Earn marketed itself as a low-risk investment in which customers could lend crypto assets to another firm, Genesis Global Capital (GGC), while earning interest payments as high as 8%. That was when the trillion-dollar crypto market crumbled, due to the collapse of FTX, the once high-flying crypto exchange.

Persons: Cameron, Tyler Winklevoss, NYDFS, Meta’s, Mark Zuckerberg, Sam Bankman, Fried Organizations: CNN, Gemini Trust, Gemini, New York Department of Financial Services, Facebook, Genesis Global, Bankman, New, GCC, Digital Currency Group Locations: New York, FTX, Manhattan

☆ NY attorney general expands crypto lawsuit, sees $3 billion fraud
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +2 min

New York Attorney General Letitia James on Friday expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the size of their alleged fraud scheme to more than $3 billion. James had in October sued DCG, its Genesis Global Capital unit, and Gemini Trust, the exchange run by twin brothers Cameron and Tyler Winklevoss. James is seeking more than $3 billion of restitution for the more than 230,000 investors who she believes were defrauded. Representatives for DCG, Genesis and Gemini did not immediately respond to requests for comment. Gemini, meanwhile, has sued DCG over their failure of their crypto lending partnership.

Persons: Letitia James, Donald Trump, James, DCG, Cameron, Tyler Winklevoss, Gemini, Barry Silbert, Soichiro Moro, Genesis, Sam Bankman Organizations: New, Trump Organization, Court, New York, Digital Currency Group, Genesis Global, Gemini Trust, DCG, Gemini, U.S . Securities, Exchange Commission, SEC Locations: New York, Manhattan, New York City, U.S

☆ Winklevoss' crypto exchange Gemini gets nod to launch in France amid clash with U.S. regulators
▼ + stars: | 2024-01-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Tyler Winklevoss and Cameron Winklevoss (L-R), co-founders of crypto exchange Gemini, on stage at the Bitcoin 2021 Convention in Miami, Florida. Cryptocurrency exchange Gemini has been awarded crypto registration to launch its services in France, the company told CNBC exclusively. The firm, which was founded and is owned by twins Tyler and Cameron Winklevoss, said it was approved as a virtual asset services provider by French markets watchdog Autorite des marches financiers (AMF). "This latest regulatory approval in France represents a significant moment in our European expansion," Gillian Lynch, head of EU at Gemini, said in emailed comments. Institutional clients will get access to Gemini eOTC, Gemini's electronic over-the-counter trading solution.

Persons: Tyler Winklevoss, Cameron Winklevoss, Gemini, Tyler, Gillian Lynch Organizations: CNBC, AMF, EU, Gemini Locations: Miami , Florida, France

☆ Who is former crypto king Sam Bankman-Fried?
▼ + stars: | 2023-11-03 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +9 min

New York (CNN) — Sam Bankman-Fried, once known as a cryptocurrency whiz kid, was found guilty on Thursday for his role in the collapse of the cryptocurrency exchange FTX. His entrepreneurial drive didn’t stop there: In 2019, Bankman-Fried co-founded cryptocurrency exchange FTX and became its CEO. In December 2022, Bankman-Fried was arrested in the Bahamas after US prosecutors filed criminal charges against him. Jane Rosenberg/ReutersBankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. Immediately following FTX’s crash, crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, froze customer redemptions in its lending unit, citing market turmoil.

Persons: — Sam Bankman, FTX, Jane Street, ”, Fried, “, …, ” Sam Bankman, Erika P, Rodriguez, Jane, Caroline Ellison, Binance, Sam Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, Joe Bankman, Barbara Fried, Bankman, Allan Joseph Bankman, Yuki Iwamura, Samuel Bankman, Saul Loeb, ingratiated, Tom Brady, Stephen Curry, Naomi Osaka, Larry David, Cameron, Tyler Winklevoss Organizations: CNN, Jane, Capital, MIT, Alameda Research, Chicago Tribune, Tribune, Service, SoftBank, U.S, District, Reuters, Bloomberg, Royal Bahamas Police Force, Billionaire, Stanford, FTX, Getty, Democratic Party, Federal, Commission, Republican, Agriculture, Nutrition, Forestry, Miami Heat, ”, New Locations: York, Alameda, North Berkeley , California, Nassau, Bahamas, BlackRock, Bankman, Hong Kong, United States, FTT, New York City, U.S, FTX, New York, Washington ,

☆ Genesis and Gemini face civil suit alleging $1 billion fraud
▼ + stars: | 2023-10-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The lawsuit accused the companies of lying to investors and covering up more than $1 billion in losses. According to the latest lawsuit, Gemini knew that Genesis’ loans were risky and, at one point, “highly concentrated” with Bankman-Fried’s crypto trading house Alameda Research. “Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” James said. Gemini’s owners, the Winklevoss twins, have said Genesis owed more than $900 million to some 340,000 customers using the Earn program. The AG’s lawsuit follows another civil action brought by the Securities and Exchange Commission, which in January sued Genesis and Gemini for offering unregistered securities through the Earn product.

Persons: Sam Bankman, —, Cameron, Tyler Winklevoss, Letitia James, James, James ’, Crypto, Cameron Winklevoss, Christopher Goodney, Gemini, Fried, “ Gemini, Genesis, ” James, Soichiro “ Michael ” Moro, Barry Silbert, DCG didn’t Organizations: CNN, New, — Gemini Trust, Genesis Global Capital, Digital Currency Group, Yorkers, Gemini Trust, Bloomberg, Getty, Alameda Research, Securities and Exchange Commission, Gemini, Genesis Locations: New York

☆ New York sues crypto firms for alleged $1 billion fraud, cites SBF hedge fund bet
▼ + stars: | 2023-10-19 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Crypto firms Digital Currency Group and Gemini defrauded more than 230,000 investors out of a collective $1.1 billion, New York state prosecutors said in a lawsuit filed in Manhattan Thursday. They cited a series of missteps, including failure to adequately manage the risk associated with exposure to Sam Bankman-Fried's bankrupt and allegedly fraudulent crypto trading firm. For a time, it was very lucrative, until crypto hedge fund Three Arrows Capital defaulted on its loans and sent much of the crypto world into tumult. Gemini would then give Genesis that customer crypto for further lending, collecting a slice of Genesis' interest. By extension, prosecutors say, that meant that Gemini also had exposure to Alameda — and allegedly knew they did.

Persons: Crypto, Sam Bankman, Genesis, Barry Silbert's, DCG, 3AC, Cameron, Tyler Winklevoss, Gemini Organizations: Digital Currency Group, Gemini, Genesis Global Capital, Arrows Capital, New, Genesis's, Alameda Research, Alameda — Locations: New York, Manhattan, Alameda

☆ Rainmakers find political hedge in Chris Christie
▼ + stars: | 2023-10-16 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

[1/2] Republican presidential candidate and former New Jersey Governor Chris Christie speaks at the New Hampshire Republican Party’s First in the Nation Leadership Summit in Nashua, New Hampshire, U.S., October 13, 2023. Several hedge fund rainmakers poured cash into Chris Christie’s campaign over the summer, according to filings released on Monday. But with legal woes hanging over Trump’s campaign, contributions to the most anti-Trump conservative could become a valuable call option for the group that knows something about hedging. It’s notable that Christie has been vocal about attacking Trump, whom he advised during the prior president’s first term. Former New Jersey Governor Chris Christie raised $3.8 million over the quarter, aided by donations from wealthy investors including Stanley Druckenmiller, David Tepper and Paul Tudor Jones.

Persons: Chris Christie, Brian Snyder, Donald Trump, hasn’t, Wall, Chris Christie’s, Christie, Nikki Haley, Ron DeSantis, Vivek Ramaswamy, Tim Scott, That’s, Stanley Druckenmiller, David Tepper, Tudor Investment’s Paul Tudor Jones maxed, Seth Klarman, Bruce Kovner, Trump, ” Christie, Ramaswamy, Tyler Winklevoss, Paul Tudor Jones, Lauren Silva Laughlin, Sharon Lam Organizations: Republican, New, New Hampshire Republican Party’s, Nation Leadership Summit, REUTERS, Rights, Reuters, Republican Party, Trump, Duquesne Capital, Management, CAM, Fairleigh Dickinson University, Reuters Graphics Reuters, Federal, Former New Jersey, Thomson Locations: New Jersey, Nashua , New Hampshire, U.S

The lending unit of crypto firm Genesis filed for bankruptcy in January after the collapse of key counterparties including FTX caused it to freeze customer redemptions in November. Its largest creditor is Gemini, founded by billionaire identical twins Cameron and Tyler Winklevoss who are also former U.S. Olympic rowers. A bankruptcy court appointed a mediator in April to help Genesis, DCG and its creditors agree on a restructuring plan, but the parties have yet to reach a deal despite several extensions. Under the offer, DCG would retain the proceeds from the sale of Genesis' lending unit. If Silbert and DCG do not agree, Gemini will sue Silbert and DCG, and file a motion to place DCG in default and demand immediate debt repayments, Winklevoss said.

Persons: Cameron, Tyler Winklevoss, Gemini, Barry Silbert, Cameron Winklevoss, Winklevoss, DCG, Mark Zuckerberg, Silbert, ” Winklevoss, Hannah Lang, Dietrich Knauth, Michelle Price, Matthew Lewis Organizations: Digital Currency Group, Gemini, U.S, Olympic, Reuters, Genesis, Meta, Facebook, Thomson Locations: Connecticut, Washington

☆ Ritholtz’s Josh Brown talks crypto winter, the failure of blockchains and how to invest in digital assets
▼ + stars: | 2023-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

I don't think advisors really have any reason to be compelled to have these conversations with clients and clients aren't asking for it." "[If tomorrow you] woke up and there was no crypto … I don't think your life would change one iota. At the end of 2021, Ritholtz partnered with WisdomTree to launch the RWM WisdomTree Crypto Index to offer exposure to the crypto market through a financial advisor. "I don't think everyone has to, but if you want to, I think holding bitcoin outright is maybe the most common sense approach. "I don't think individual investors should be involved in bitcoin futures," he said, "because there's no passive way to do that.

Persons: Bitcoin, Josh Brown, There's, –, Brown, he's, Ritholtz, WisdomTree, … There's, It's, Gemini's Cameron, Tyler Winklevoss, You've Organizations: Ritholtz Wealth Management, CNBC Pro, Digital Assets, Financial Professionals, Advisors Locations: Austin , Texas, U.S, Brown

☆ Crypto exchange Gemini to soon operate in the UAE
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Gemini will "soon" start the process of buying a crypto license to operate in the United Arab Emirates, and the team has met stakeholders throughout the region to learn more about local regulatory requirements, the crypto exchange said late on Wednesday. Gemini, founded by cryptocurrency pioneers and identical twins Cameron and Tyler Winklevoss, is aiming for the "adoption of crypto globally across 20 countries." "By applying for a license, we will be taking another step towards making Gemini a truly global company," the exchange said in a blog post. Digital assets industry is recovering from several blow-ups last year, including the bankruptcy of Sam Bankman-Fried's crypto exchange FTX and companies are looking to expand their global footprint amid escalating tensions between the crypto sector and regulators in the United States. Gemini, earlier in May, also launched a derivatives platform for trading perpetual futures, outside the U.S. jurisdiction.

Persons: Cameron, Tyler Winklevoss, Sam Bankman, Mrinmay Dey, Nivedita Organizations: United Arab, Gemini, UAE . Digital, Thomson Locations: United Arab Emirates, UAE, Gulf, United States, Bengaluru

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