{"id":9737,"date":"2023-01-13T04:15:14","date_gmt":"2023-01-13T04:15:14","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=9737"},"modified":"2023-01-13T04:15:15","modified_gmt":"2023-01-13T04:15:15","slug":"winklevoss-slams-sec-charges-against-gemini-as-a-super-lame-manufactured-parking-ticket","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9737","title":{"rendered":"Winklevoss slams SEC charges against Gemini as a \u2018super lame &#8230; manufactured parking ticket\u2019"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, has hit out at the regulator charging the exchange over issuing unregistered securities, calling the allegations \u201csuper lame&#8221; and a \u201cmanufactured parking ticket.\u201d<\/p>\n<p>In a series of tweets on Jan. 12, Winklevoss shared his disappointment about\u00a0the charges by the Securities and Exchange Commission (SEC) over Gemini\u2019s \u201cEarn\u201d program, claiming the regulator was \u201coptimizing for political points.\u201d<\/p>\n<p>He called the SEC\u2019s action \u201ctotally counterproductive\u201d and said thatGemini had been discussing the Earn program with the regulator \u201cfor more than 17 months.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">2\/ As a matter of background, the Earn program was regulated by the @NYDFS and we\u2019ve been in discussions with the SEC about the Earn program for more than 17 months. They never raised the prospect of any enforcement action until AFTER Genesis paused withdrawals on November 16th.<\/p>\n<p>\u2014 Tyler Winklevoss (@tyler) January 12, 2023<\/p>\n<p>\u201cThey never raised the prospect of any enforcement action until AFTER Genesis paused withdrawals on November 16th,\u201d Winklevoss added.<\/p>\n<p><em>Cast your vote now!<\/em><\/p>\n<p>Gemini&#8217;s Earn product launched in February 2021 and officially ran until Jan. 8. A deal with the crypto lender and Digital Currency Group (DCG) subsidiary Genesis allowed Gemini users to earn yield by lending their crypto to the market-making firm.<\/p>\n<p><em><strong>Related: Genesis tells clients it needs more time on financial woes after Gemini demands action<\/strong><\/em><\/p>\n<p>In early November, Genesis revealed it had roughly $175 million stuck in the now-bankrupt FTX exchange. DCG sent\u00a0$140 million\u00a0to the firm\u00a0in an attempt to shore up its balance sheet but by Nov. 16 Genesis suspended withdrawals, citing FTX\u2019s bankruptcy.<\/p>\n<p>Genesis owes 340,000 Gemini Earn users $900 million, according to open letters by Gemini co-founder Cameron Winklevoss.<\/p>\n<p>Tyler Winklevoss stated Gemini would defend itself against the unregistered security charges and would \u201cmake sure this doesn\u2019t distract us from the important recovery work we are doing.\u201d<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/winklevoss-hits-back-against-super-lame-manufactured-parking-ticket\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, has hit out at the regulator charging the exchange over issuing unregistered securities, calling the allegations \u201csuper lame&#8221; and a \u201cmanufactured parking ticket.\u201d In a series of tweets on Jan. 12, Winklevoss shared his disappointment about\u00a0the charges by the Securities and Exchange Commission (SEC) over Gemini\u2019s \u201cEarn\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-9737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9737"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9737\/revisions"}],"predecessor-version":[{"id":9739,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9737\/revisions\/9739"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9738"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}