SEC charges Genesis and Gemini with trading unregistered securities

Adverse Event

Joined: Feb 25, 2022

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We @SECGov charged Genesis & Gemini for the unregistered offer & sale of crypto asset securities through Gemini Earn.

Crypto intermediaries need to comply with our securities laws. This protects investors. It promotes trust in markets. It’s not optional. It’s the law.
— Gary Gensler (@GaryGensler) January 12, 2023

Today we charged Genesis Global Capital, LLC and Gemini Trust Company, LLC for the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program.

For more:
— U.S. Securities and Exchange Commission (@SECGov) January 12, 2023

1/ It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive.
— Tyler Winklevoss (@tyler) January 12, 2023

Will we finally see an end to ****coin casinos?

Help_needed

Joined: Feb 13, 2020

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8:50p, 1/12/23

Just as I thought it was goin' alright
I found out I'm wrong, when I thought I was right
It's always the same, it's just a shame, that's all

EKUAg

Joined: Jun 13, 2010

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In reply to Adverse Event • 8:52p, 1/12/23

Adverse Event said:
We @SECGov charged Genesis & Gemini for the unregistered offer & sale of crypto asset securities through Gemini Earn.

Crypto intermediaries need to comply with our securities laws. This protects investors. It promotes trust in markets. It’s not optional. It’s the law.
— Gary Gensler (@GaryGensler) January 12, 2023

Today we charged Genesis Global Capital, LLC and Gemini Trust Company, LLC for the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program.

For more:
— U.S. Securities and Exchange Commission (@SECGov) January 12, 2023

1/ It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive.
— Tyler Winklevoss (@tyler) January 12, 2023

Will we finally see an end to ****coin casinos?

Ah, a Vinklevoss twin from the Facebook stuff with Zuckerberg.

DallasAg 94

Joined: Dec 2, 1999

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8:55p, 1/12/23

1 edit

Detmersdislocatedshoulder

Joined: Mar 30, 2020

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In reply to DallasAg 94 • 10:31p, 1/12/23

DallasAg 94 said:
So, the SEC waited until after Billions were siphoned off and laundered into the election campaigns of Democrats... and THEN... they decide after the collapse and fraud was exposed, to actually intercede?!

Is this a great country, or what?!

SEC=FBI

Picard

Joined: Dec 6, 2004

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11:19p, 1/12/23

I thought Genesis and Gemini were strippers

Baron von Bulsh

Joined: Jun 7, 2018

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In reply to Picard • 12:14a, 1/13/23

Picard said:
I thought Genesis and Gemini were strippers

Not my preferred kind of stripper.... but you do you