Gemini bros

[Anonymous No.52487051]

Are you alright?

[Anonymous No.52487103]

>>52487051
DO NOT REDEEEEEEEEEEMMMMMMMMMMMMMMMMMMMMMMMM

[Anonymous No.52487110]

>>52487051
Is this why my Brave rewards profile was flagged? I don't want know what qualifies as irregular activity, but I wasn't using a script or anything to get extra shit while afk.
Have the twinkle twins stolen my ad money?

[Anonymous No.52487127]

>>52487051
I love these fucking normies getting justed, take your coins off exchanges retards

[Anonymous No.52487151]

Im okay
They removed Gemini in my country long ago

[Anonymous No.52487154]

damn

[Anonymous No.52487213]

>>52487051
AHAHAHHAHAHAHAHHAHAHAHA look at all these cryptofags HAHAA

[Anonymous No.52487240]

Kek they're deleting anything that says ur fucked lad
Happens every time for these subreddits. You'd think the goys would have learned by now.

[Anonymous No.52487272]

NO NEED TO PANIC
EVERYONE REMAIN CALM
EVERYTHING IS FINE

[Anonymous No.52487540]

how realistic does this chart look

[Anonymous No.52487696]

>>52487540
Huobi will probably be fine, they're not so small 18 million can bring them down

[Anonymous No.52487771]

>>52487540
Genesis had a 175M trading balance now locked with FTX, but I think that's all they've claimed.

[Anonymous No.52487806]

>>52487540
Jewmini didnt really pause withdrawals, I had 5 wire withdrawals going through within an hour of submitting the request

[Anonymous No.52487829]

every exchange user deserves this

[Anonymous No.52487903]

>>52487806
The pic says Earn halted withdrawals.

When people lose the money that they thought was safe, that's one thing.
But when people lose the money that they gambled and went in eyes wide open with the understanding that they were gambling and could lose the money ... well that's not really newsworthy is it?

[Anonymous No.52487924]

>>52487540
Only thing notable so far that isn't directly related to FTX in a business sense is Genesis.
Who gives a shit about Galois and their 100m.
If this is 'it' for the contagion(probably not) it's pretty weak so far.
Although it depends on how bad Genesis is right now. If it's like, ok everyone takes a 20% haircut or something, then whatever. If they've somehow lost it all, then that will be bad.

[Anonymous No.52487937]

>>52487696
Huoibi washtrade so hard it is impossible to tell if that is true.

[Anonymous No.52487943]

>>52487051
It was written in very plain terms that money put on earn wasn't safe. Gemini's only responsibility to these people is to help them get the best outcome. They gambled and lost. Maybe Gemini decides to help bail them out, but they certainly have no responsibility to do so.

[Anonymous No.52488146]

>>52487903
Ah fair enough I only glanced at it kek.
Most people wont have any kind of self-responsibility and blame whoever they can anyway

[Anonymous No.52488353]

>>52487540
Remember boys, all those bankruptcies and liquidity issues the past year have absolutely no effect on Tether. They do not havy any exposure to this with their 60 billion in the ecosystem.

[Anonymous No.52488457]

>>52487924
Genesis is experiencing a liquidity crunch due to the unexpected number of withdrawals. If they are running a properly risk manged business then they should have the funds, but they are tied up in loans. They will have to wait until the outstanding loans expire and funds are returned to resume withdrawals.

Or they could get temporary liquidity from their daddy at DCG or other corporate loan entities and then reopen withdrawals.

Worst case would be they are passing along their 3AC losses this summer on to their customers and declare bankruptcy. Then everyone is fucked.

[Anonymous No.52488565]

I HATE REDDIT SO MUCH IT'S UNREAL

[Anonymous No.52488585]

>>52488457
Yeah but it's all good because Su and Kyle are back and raising money again for a new fund.
I hear they're going to make it all back in one trade.
U in?
nm about the 2.4b they owe Genesis or whatever, ancient history

[Anonymous No.52488601]

>>52488457
But Genesis business model is giving away customer funds to companies like Gemini to earn yield. So if the companies who received money from Genesis are broke, they can wait as long as they want, the won't be able to give the money back to customers.

Another huge red flag is that exchanges are not allwoing to transfer funds from one exchange to another, because they are worried that you are going to withdraw it with them instead of trying to withdraw it on the other exchange. There is an overall serious liquidity crisis in the whole ecosystem because frauds printed coins, inflated prices with no real cash behind it.

[Anonymous No.52488604]

>>52488353
Eli5

[Anonymous No.52488659]

>>52488353
it might be possible if they don't gamble the money no ?

[Anonymous No.52488664]

>>52488604
usdt may go to 0

[Anonymous No.52489018]

>>52488604
>>52488659
Let's assume they did not gamble with money. There are still huge red flags
>no serious bank would do business with Tether, so they are forced to use sketchy banks or lied to banks about their business (wire fraud)
>same problem with exchanges, they used sketchy banks or lied too
>authorities have now legal basis to seize assets in those banks (already happened with Tether, and they are currently under investigation)
>when we look at FTX right now you can be assured that all their money flows are currently at least under investigation, likely frozen/seized
>there is something called clawback, which means authorities can demand money back (bad news not only for Tether but also for the Democrats SBF donated to)
>the reason why Tether does not share in what securities they invested is because those are risky securities (commercial papers and treasuries of countries authorities where US/EU authorities for example have no legal standing)
>the same reason why they won't share with which banks they work with, because they'll get in serious legal trouble (for example if it turns out that Tether and Iran share the same bank and are used for money laundering)
>now consider that the global financial market tanked this year and there was no asset class that performed as a hedge (even treasuries performed horribly), do you really think Tether did not lose money with their investments? Especially because they are forced to invest in riskier markets.

There are other possible problems when you consider that they likely gave loans to a couple exchanges that went bust this year.
They had 6 different accounting firms dealing with their balance sheet in the last couple years. This is a huge red flag.

[Anonymous No.52490145]

>>52487937
Don't literally all of the washtrade like crazy?

[Anonymous No.52490670]

>>52487051
this has to do with Genesis earn scam
Gemini exchange is all good