Tag Archives: gemini

Several crypto exchanges are taking steps to adhere to recently imposed regulations by the UK government. These regulations require crypto entities to inform users about the risks associated with trading digital assets and to promote their services responsibly. These measures have been implemented as part of the Financial Services and Markets Act in the UK, which has expanded its scope to include firms dealing with crypto and stablecoins, subjecting them to the same...

Gensler disclosed that the SEC is actively reviewing rules that could potentially hurt the crypto industry. In a recent interview with CoinDesk, Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), voiced his concerns regarding the crypto industry, noting that the space is rife with fraud and bankruptcies. The SEC chair said while he respects investors’ decision to explore the crypto market, he does not believe they receive adequate disclosures regarding...

Gemini, the Winklevoss Twins crypto platform offering an exchange, custodian services, and – in partnership with Genesis – Earn services, has been in a bit of trouble ever since the latter filed for bankruptcy last January. Possible Recovery Plan Waiting For Court Approval Genesis, whose legal troubles stemmed partly from a loan to its parent company DCG that had not been repaid, has reportedly finally worked out a plan for repayment with said firm, allowing it to repay...

The Crypto Sector Index Series will include several indices tracking the prices of a bucket of different digital assets based on their use cases.  The world’s largest digital assets manager Grayscale Investments continues to take steps in order to expand its footprint in the market. Also, the latest report shows that Grayscale is venturing into the crypto indices business in partnership with the London-based indices provider FTSE Russell, a London Stock Exchange subsidiary. Grayscale and...

New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry, filing a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG). The legal action centers around Gemini Earn, a joint effort between Genesis and Gemini that offered investors significant returns on their cryptocurrency deposits. Nonetheless, James asserts that these returns were founded on misleading information, resulting in...

In a strategic move to bolster its European expansion, cryptocurrency exchange Kraken has announced its intention to acquire Coin Meester B.V. (BCM), a Netherlands-based digital asset broker. The planned acquisition follows the recent implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, which governs the operations of crypto exchanges in the region, including […] In a strategic move to bolster its European expansion, cryptocurrency exchange Kraken...

It remains unclear whether the Orama purchase will directly result in the development of crypto-related products and services at BTG Pactual. Banco BTG Pactual SA Unit (BVMF: BPAC11), Brazil’s biggest investment bank, recently announced it has acquired 100% of the share capital of Orama DTVM, a prominent independent distributor for R$500 million (worth about $99 million). BTG Pactual and Orama Form a Strategic Alliance Orama, with more than R$17.9 billion ($3.6 billion) in assets under...

The Netherlands took the lead among European Union member states by mandating that crypto companies adhere to the 5th Anti-Money Laundering Directive (5AMLD). Leading cryptocurrency exchange Gemini has decided to halt its operations in the Netherlands, citing mounting regulatory hurdles imposed by the Dutch central bank De Nederlandsche Bank (DNB).  The move follows the footsteps of Binance, another digital asset trading platform that withdrew from the market earlier this year due to...

Following a lot of legal back-and-forth jabber, the Winklevoss Twins of the Gemini exchange in New York are moving forward with their lawsuit against Barry Silbert and his company Digital Currency Group. The Twins allege that the firm and its CEO Silbert engaged in massive fraud. The Winklevoss Twins Are Taking DCG to Court The problems stem from a program introduced by Gemini called Earn, which allowed users to loan their assets to Genesis, a division of the...

Despite a solid rally in the week prior, mid-July saw bitcoin experience something of a dip in its price. It fell to about $30K even after several weeks of trading above $31,000 per unit. Bitcoin Endured a Few Slips The crypto market experienced a few nasty hits, such as non-fungible tokens (NFTs) being dramatically sold off. Many major collections saw their prices slouch as more and more individuals begin to question whether these assets are worth anything at...