/biz/ - Business & Finance

>>52466506
If you trust your wealth to a Gemini you're about to find out real quick. Good luck sweetie... ;)

xoxo

>>52466506
RUN GEMINI USERS, GET OUT FIRST OR LOSE YOUR MONIES

SER DO NOT REDEEM THE FUNDS DO NOT REDEEEEEEM

Retard. Uniswap. Quickswap. All on Polygon so no gas. 3AC, voyager and all those CEXs went to shit and retards still have money on Gemini?

>>52466506
>have nothing in it
>only use as kyc'd on and offramp
>immediately remove everything to a wallet upon purchase or when deposit clears
Are people legitimately stupid enough to keep shit on an exchange?

So... Gemini (DA SAFEST BRO) -> Genesis -> FTX backhole.

You literally were putting your money into a crypto VC fund only get 8% APR, and two middle men skimming off the top.

>HURRR gemini is regulated
>HURRR regulation will fix this

>>52466672
For the earn program yeah..they fully disclosed it was going to be lent out by genesis..people knew what they were getting into

>>52466506
Imagine watching the facebook movie and thinking "the douchebag twins, that's who I'll trust my money with."

>>52466506
BASTARD BITCH DO NOT REDEEM MY COINS

>>52466506
i would bet like 1:33 odds depositors wont lose a single penny in gemini over the next 2 years, for a lot of reasons but not least of which is that the winklevosses can probably cover all of the deposits with their own bitcoin holdings, it doesnt even show up on volume charts its so small still, but hopefully after this bear and the frauds get washed out more people will use it because its a great exchange

>>52466695
But I thought it was big government's job to "protect" people from making their own decisions?

>>52466738
Kek

>trusting your money with this nigger
deserved

>>52466818
>he didn't pull out all his money after this
AHAHHAHAHHAHAHHAHHAHAHHA

>>52466506
>yfw you knew this would happen months back and got my shit out in five minutes

ONLY BINANACE REMAINS

REDEMPTIONS: DENIED

>>52466506
I had 50k in GUSD on Earn but pulled it all out after the Terra Luna fiasco just to be careful. Glad I made the right choice even if a little early. The risk was not worth 8% return.

>>52467079
What's even the usecase of GUSD other than lending it? Do people actually use this in transactions or anything else? Thought about doing the same last year but I never really got the point of stablecoins when the point of crypto is to make a better currency different from the dollar instead of a digital dollar.

>>52467165
tokenized USD for defi

>>52467165
Yeah the only point is to stake and earn rewards. It just seemed better at the time than letting the cash sit in my savings account at 0.01% interest. Anyways learned my lesson without personally getting caught out.

Still had cash on Gemini, withdrew all of it. Fuck, I used to have 15k LINK on their Earn platform

My perpetually broke sister has her entire "life savings" on gemini. I told her crypto is a scam (oversimplification since she is too retarded to own internet coins) and she blew me off

Im going to be bailing her out again I already know

>>52467446
how about you tell her to get it off? im getting money off incase their is an issue. I think earn is different and you had to sign up for it.

>>52466506
Appreciate you making this thread. Just took some ETH off Gemini. Wasn't using the earn program so can't speak to that.

>>52467079
>I had 50k in GUSD on Earn but pulled it all out after the Terra Luna fiasco just to be careful.
In Gemini's defense, they said Earn had a different risk profile. That's why I never fucked with it.

The earn rewards suck anyways. Yeah I’m going to give permission for them to lock up my money in some external holding group for 2%

>>52467496
i believe she had it all on earn... i just texted her to withdraw everything. She described it as a 'crypto savings account' i am so fucking mad beause i already know shes going to come to me and our parents for money if this goes sideways

>>52467446
>her entire "life savings" on gemini
What's that? $450?

>>52467575
i know thte feeling man, im assuming you're older idk. Fucking siblings

>>52466506
the team said they're working to resolve this asap
it's fine
everything's fine

>>52466610
Thats a man

Gemini and Gemini Earn are two different things but nonetheless there is no advantage to having coins or cash on exchange right now that isn't outweighed by risk.
You can transfer money in and out of Gemini, and most other exchanges in 1-3 days and coins in even less time than that. I promise you that in this state of the market there is no dip or red dildo of doom you can't afford to miss the pico bottom of by 1 fucking day.
>>52467446
Maybe try not over simplifying it. People tend to not take advice from people who are condescending pricks.
Instead of
>crypto is a scam
try
>hey, with the way things are going in the market right now I think it would be a pretty good idea to just get what you have off exchanges because they are vulnerable through something called counter-party risk and they also aren't required to bail you out if they go bust and even if they do pay you back that process can take years to complete (see Mt Gox)
>I can help you with everything and it's really just copy pasting a few links and typing how much you want to transfer, it's easier than you might think it is.

>>52466506
Already debunked on reddit

This is just for the Earn program. They warned you that there was risk involved. You should have put 2 and 2 together and realized there is no free lunch. This is what I told everybody who came to me talking about it.

welp, anotehr recognition, time to go

you were warned

>>52467915
genuine posters like you are a rare sight. bless you anon. hope you have a good life. pls don't stay here too long.

>>52467537
yeah, you had to go through multiple forms saying "ALL YOUR CRYPTO WILL BE SENT TO GENESIS AND YOU WILL BECOME AN UNSECURED CREDITOR. THIS IS #YOLO"

Just tried to move Link to a Ledger...

>>52468242
Same. I had a ton of Luna in their earn program back when it was mooning and got like 4.5% return.
It was a good run ngl
I honestly never thought there was any risk on earn but I’m glad I pulled my shit.

>>52467915
you dont understand, if i give her a nuanced opinion she'll just move from this scam to the next one. She doesnt have enough money where she needs to invest anything, she needs to hold that shit in a checking account for the next time her minivan blows a tranny or she wrecks it. Sick and tired of having to explain to her why DOGEB...KSHITPISSC0IN is not a good place for her $5000 life savings and that account that says elon musk is not actually elon musk

This is like the 5th time shes been scammed/made poor investments in the past couple years, its getting ridiculous

>>52468780

Retards still thought this was like a normal bank savings account interest situation lol

>>52466506
Jesus Christ, FTX really was the Lehman Bros moment all over again wasnt it. The real question is if the crypto bubble popping will also pop the (((stock market))) bubble as well

>>52468797
sorry goyim the blockchain failed validation

Just withdrew all my funds as ETH, already went through.
Regardless of them doing fractional reserves or not, having any funds left on any exchange would be retarded at this point.

>>52466738
Movies are not real life.

>>52469051
yep. quite sad but the ecosystem is healing.

The app no longer shows the Earn (or grow) portion of your portfolio.

>>52467446
>young female
>life savings
So $50?

If Gemini really is keeping 1:1 deposits for users, a bank run shouldn’t impact them at all, right?
Why don’t exchanges encourage self custody? Unless they are playing with users’ crypto, why bother with the headache of managing it for them?
They make their money off fees and spreads, right?

>>52469377
Its a big if but yes
They make money off fees mostly but the jew way is to maximize the usage of capital that you have, so they play with the funds in order to make even more money

>>52469377
They don't manage it for you. Having a 1:1 is standard. If you buy 1 btc you can withdraw 1 btc, if you deposit $100 you can withdraw $100. It's really that simple. They aren't advocating you to do anything because that's actually where the headache comes in. They're just saying they have what they say they have, nothing more nothing less. They are there to operate as an exchange and that's it. I doubt we ever see margin or derivative trading on Gemini. They floated some of those ideas out to users via survey back in 2021 and I haven't heard anything about it since and I think with everything that's going on now they are just going to be a boring but 'safe' exchange.

>>52469377

The big appeal of banking is fractional reserve banking. If they're really 1:1 they're limiting themselves bigly but it is also insurance for your company in a very volatile industry.

In this case, they hurt their upside by not doing it while FTX did, but since they covered their ass they're now going to stay solvent while picking up a chunk of former FTX customers, it's the long game.

>>52466506
AAAAGGGGRRRHHHHHHH I HAVE 5k WORTH OF SHIT ON THERE STILL FUCK FUCK FUCK

>>52469367
shes not young

>>52469633
weren't some anon boasting about how gemini is the safest one...

>>52469643
it's still the one of if not the safest exchange. maybe try reading even one or two posts in the thread before posting

>>52466621
kek

>>52469643
I never did I’m moving all my shit off of exhchanges today. Luckily I got like 2k of shit off Gemini earlier this morning but was doing it in stages and got pulled into a wage cuck call in the middle of moving more shit and now this is happening. Fml

>>52469674
Safe my ass nigger this is the screen I’m getting when trying to access my account

>>52469723
I just tried logging into my account, got this.

how fucking convenient...

>>52469643
It is and you’re retarded. Doubly so if you kept money there.
>>52469674
But he has a point in the sense that carrying a risky product like Earn diluted their “trust” brand.
I get that they inform you about the risks but look at all the retards in this thread who didn’t read the warning.
People aren’t going to make any distinctions. They’re just going to remember that gemini was one of the CEXs that halted withdrawals during this mess.

FUNDS ARE SNAFU

https://youtu.be/kW2QxswoQmc
Oh nonono
its almost like the banker anon predicted this
Its almost like the schizos are right
Its almost like while this is going on a premiere crypto company is having their annual event with some interesting speakers attending
Lol lmao

>>52469790
>>52469792
>>52469797
>>52469723
planned maintenance chudcels
take grass and touch meds

>>52466738
Anon....In real life the white chads are successful and the resentful jews get revenge by making them evil in movies

>>52469797
>HODL mode activated :^)

>>52466738

They came up with the idea for Facebook, not the duplicitous kike who stole it

>>52467446
Get your sister off

>>52469862
It’s over

>>52466506
> Industry

WITHDRAWS ARE PAUSED!!!

>>52466506
>PSA: exit Gemini ASAP
KEK get fucked retard. Any interest shit on crypto deposits is a scam. PERIOD.
That being said, holding real USD is safe.

>>52470036
Ive said it before, the greatest kike scam was forcing normies into the market. It used to be every low IQ wagie could just toss their pay into a savings account, or hold cash, and get a respectable return with essentially 0 risk, which is perfect since they arent equipped to make good risk assessments. Now that logic has been turned upside down, and everyone HAS to participate in the market, be it stocks, crypto, bonds, etc. or else lose everything to inflation by the time they retire. Its a whole untapped market ripe for jewish theft and manipulation, and they are TOTALLY defenseless

>BROS I CAN'T LOGIN THEY'RE RUGGIN!
>Meanwhile a bankrun on every crypto exchange is happening and everyone that was too fucking stupid to keep their shit in a wallet is now panic withdrawing everything
Give it a couple minutes and try again, ffs. Can't wait till the other side of this when gemini is still solvent and doing fine besides having to deal with retards that refused to read about the APY program they signed up for.

>>52469877
ACKSHUALLY it was DARPA

>>52469793
>carrying a risky product like Earn diluted their “trust” brand
Yeah this. Gemini is super regulated to the level of Fidelity Digital. They are fucking reputable. I can see how they wanted to create Earn to provide an alternative, but it will affect their trust and perception of them. Even if people didn't understand counterparty-risk and thought it was "free" money.

>>52466738

>>52469020
This is why women shouldn’t have the vote.

get fucked gemini
i tried signing up for an account in 2018. did the whole kyc process and it said it would take about a week. a week later i got an email saying my account was closed with zero reason. i emailed support asking if i maybe accidentally entered something in wrong on my kyc. those kikes told me they couldnt tell me and closed the support ticket. im white, 750 credit score, no collections, no debt, no criminal history, pay my taxes, and was truthful about everything i entered in the kyc.
i have never had this issue with any other exchange ever. fuck gemini

>>52466506
>Gemini Earn is unsecured lending.
>Crypto balances are insured specifically only against Gemini being hacked.
>Your crypto balance is not insured against having your account maliciously accessed and withdrawn.
>Your USD cash balances on Gemini are FDIC insured.
They operate in NY and abide by New York laws.

t. Gemini User

>>52469641
Well that's even more worrisome. She should know better.

>>52466738
KEK

>>52466610
she think so so sexy ever since all the twitter losers simped all over her

>>52469633
>>52469723
>>52469792
>>52469797
It’s working again btw.
Just withdrew my btc.
You faggots gave me a fucking heart attack

>>52466738
>A jew Hollywood movie made the jew a hero and the white Chads the bad guys
wow. sound investment thesis

>>52467842
They are insolvent, the twinkle bros are massive shitcoiners, they even have 10k nfts as pfp.

>>52469797
well memed

>>52467446
honor kill your sister

>>52466738
if you watched the movie and think the twins are the evil guys there you must be 5 years old.

>>52470953
Its just shills trying to get users to withdraw to then send back to exchanges on the correction to panic sell, while miners profit from higehr network activity. Its annoying

unironically crypto is worthless now and all these exchanges are slowly closing down

welp, time to cash out my 35 bucks I got over the past year or so

>>52470221
that just sounds like they need exit liquidity.

>>52466506
>registered for pool lending through Earn and paid Gemini as a middleman
>FTX was probably a pool borrower
>Winklevosses get 1% of each transaction on their exchange and a matchmaker fee from Earn after making you sign consent that you are a greedy pool lending nigger who will lose part or all of your stake in the lending pool if the borrowers are particularly reckless or stupid.
You are a nigger. Gemini is fine. It operates under layers of New York fiduciary regulations and is protected by Jewish magic.

man the amount of fud for gemini today is wild. i wonder if it is being done by some seething ponzi nocoiners or bulgarians. gemini "earn' might be in some trouble but everyone signing up for that program is told that before they enter. it literally says gemini is not liable and your crypto will not be in custody for the term. their exchange, on the other hand, is fine because these guys aren't frauds and tediously vet all the things they list in the first place. i hope they are the first to do a real proof of reserves and take binance's lunch.

I can get to Grow in the app but it's showing 0.01% for all the APYs lmao.

If Genesis is fucked, guess it's a good think I only had $20 of BAT paid out through Brave on there. All for 1% interest too lol.

>>52466738
Masterful troll 10/10

>>52466506
I'M GONNA REDEEEEEEM!

>>52472231
why does gainzy even hide his face when he's giga doxxed

>Later Wednesday morning, the Winklevoss brothers' Gemini exchange said it was pausing withdrawals on its interest-bearing Earn accounts as a result of Genesis' changes. Genesis is the lending partner for that program.

RIP faggots.

https://www.msn.com/en-us/money/companies/genesis-lending-unit-halts-withdrawals-in-aftermath-of-ftx-collapse/ar-AA14b9LO

>>52475717
Screencapped.

>>52477741
The smell from this stampede... can you imagine? Jews cooking in their own cloth...

>>52466610
I'm fucked

laugh at me

i warned you faggots

>>52466738
>the jewish movie that tried to make the jew zuck look human

>>52466756
They shut down earn already. you can redeem now

>>52478461
based pessimeistfag

>>52478461
Die nigger

>>52466506
every exchange will die

>>52469812
https://ripple.com/events/swell/global/speakers/

>>52472554
they're all bad guys anon, see>>52470253

>>52467446
is she hot ? onlyfan may be a solution for her but she need to find a niche...like something really dirty...like i fuck with cactus....otherwise it s already over saturated

>>52478967
Doggy Style. Amarite?!

>>52475717
>man the amount of fud for gemini today is wild
For real. I've NEVER heard anyone discuss the level of regulation and reserves Gemini is held to.

They're regulated by New York, subject to capital reserve requirements, cybersecurity requirements, banking compliance, as a fucking fiduciary and "qualified custodian." They're the level as fucking Fidelity Digital, and dumb bastards talking about them all day like they're Bit CONNNNECT!!!!!
https://www.youtube.com/watch?v=e5nyQmaq4k4

they will fix the pb, right ? i will soon get my money back WITH the interest, right ?

>>52479013
that's the exchange. the earn part of Gemini isn't regulated

>>52478465
I refuse to believe Zuckerberg even showed hints of being emotional or engaged in yelling with them, they probably talked calmly to him for an hour like everyone does a precious autist retard, “zuck, we came up with it man, just let us have our cut please” and he just checked out mentally and dodged the issue. Eventually they had to raise their finger like Goebbels and declare our patience had run out.

insider here: please stop redeeming guys.

>>52479021
Yes. Unfortunately, people don't seem to be differentiating. I suppose that's the point of FUD.

>>52479273
We live in a complex world where it s more and more difficult to differentiate things

>>52479336
my goodness that's a puffy vulva

>>52479369
yes i m born with it. God bless

I remember skimming this shill article a long time ago. They even have digital effect animations on all of the portraits, so pathetic lmao.
Would be really funny if these two eat shit.