MORE HALTED CRYPTO WITHDRAWALS?! WTF Gemini Earn and Genesis Trading

Gemini Exchange and the Winklevoss brothers have very deep pockets - yet here we are, with Gemini Earn having paused withdrawals and no update in sight as of yet. With Genesis Trading, the primary source of interest for the Gemini Earn rates, having requested a loan of a staggering $1 Billion, are they in more trouble than we realize? What could the future be for Gemini and the Gemini Earn program? What should you do right now if you’re exposed to these entities? Let’s take a deep dive into the situation around Gemini and Genesis.

📃 Read the investigation threads here: 📃
Gemini exchange statement on trust and safety -
Winklevoss Capital portfolio of investments -
Tyler and Cameron Winklevoss -

⏰ Timestamps ⏰
00:00 FTX contagion hits hard
01:00 How is Gemini holding up right now?
02:58 How affected is Gemini Earn right now?
06:56 Winklevoss - BlockFi connection
09:58 My withdrawal process from Gemini Earn
12:07 Gemini Earn pauses withdrawals
14:30 Gemini Earn is removed and interest rates nuked
15:09 Genesis seeking $1 Billion in funding

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#crypto #gemini #bitcoin #cryptonews #voskcoin #genesistrading #geminiearn #ftx #sbf #ftxus #scam #ponzi

[InfiniteWealthMinds]

I'll be the first to say... I'm not happy to hear you were burned by this FTX bs. However, I'm happy to hear you were burned by the FTX bs. Because it shows you're a real one! You didn't just take the bag from FTX and screw over you audience like most of these influencers. You're staying true untill the end. You still have my respect Vosk!

[artemisthedog]

Happy to hear you got your funds out of Gemini! Sorry about FTX/BlockFi. I lost on Celsius, so I got out of BlockFi in June. I've used Gemini and Coinbase BECAUSE of the regulation, but still withdraw asap! Love Tails! Keep up with the content!

[stevef]

Gemini needs to buy all of its customers earn accounts otherwise people will never use them again. I got everything off my personal and business gemini accounts except for 4 ETH which is still pending. Their statements about how their trading platform is just fine is hollow and honestly everyone is lying until the last minute. If you have money on Gemini and can move it, do it and keep it on a hard wallet.

[alexdietz]

I joined crypto to try to avoid things like this.

[MULOVOLUM]

Damn! this is the first time I've ever seen Vosk like this. My Man said" I'll never trust a centralized entity till I'm dead"

[hu]

This was a hard watch, sorry you're going through this man, keep ya head up.

[rwcoulson]

"...necessary liquidity to explore all options" aka we have enough cash to hire a bankruptcy attorney. 😐

[BJJJUDO]

If you are getting 10% back in interest or rewards you can be sure they are wayyyy over leveraged and need to offer the 10% to keep people from withdrawing.

[garyleewhite]

On the bright side, this is going to push everyone into self-custody of assets (ie hardware wallet) and DeFi, as it should.

[harrychu]

I remember when Vosk and everyone else was all about cold wallets running on a device with no internet access. Where did we go wrong? We gotta get back good ole GPU mining protocols with AMD RX 580s.

[adrianadios]

I think all this could be to do with governments setting up there own centralised gov controlled digital

[tradermunky]

I got my stuff out literally hours before they sent the Genesis email, phew! 😳

Nothing is safe right now, get out and into cold storage asap! I'm not trusting anything until the Federal Reserve starts easing again, who knows what will blow up next.

[willd.]

Dude, I can see that you’re really going through a horrible time. I’m so sorry this shit’s happened. This is really so fkd up and unfair to good people like you. Stay strong, brother. There will be better days ahead. 🙏

[allby]

So when it hits the fan the statement turns from “dirty fiat” to “get your funds into dollars”

[brendonmize]

The problem isn't crypto. It's exchanges and shitty management.

[MrMoonMath]

Not your keys not your coins. You of all people should’ve known that. I’m glad you were able to get money out of it.

[maxb]

Oh man. Just withdrew the night before earn closed withdrawls. Thankful you were able to get your funds out as well Vosk.

[PimptatoPCs]

Actually, the biggest scam in the history of mankind is Fractional Reserve Banking and Fiat currency in general. But Crypto is definitely in the top 5.

[jeromedenis]

It took about 18 hours for my transfer, yes after hours if that applies anymore today. But Etherscan showed the transfer out of Gemini happened within a minute of my pushing the button on Gemini. It took my receiving end address 18 hours to show the deposit. So, I think there's maybe extra traffic that is slowing down notification to deposit account owners. Main take-a -way for me is the withdrawal happened like normal. Hope Gemini can stay prosperous.

[steamravenmining]

I started the redeem from Earn, Nov 16 8am right as the email came out. I have not gotten it back yet, it still says the 22nd. My hopeium is high on this, that was half my savings.