🏓 DCG is not getting away with it
Hi TC people. New year with new energy. Gemini sends a letter to DCG, Bitcoin core developer's wallets are compromised, and Solana is back with double digits.
Your Favorite Crypto Digest From TradeCrypto.com #203
Daily statistics update:
Today's market is green. BTC is trading at $16,726; ETH is around $1,216.
💪 Bitcoin dominance: 39.86%
📉 Total Crypto Market Cap: $808.26B
😲 Fear and greed index: 26 (Fear)
🚀 Gainers (Top-100)
• BitDAO (BIT) +9.13%
• Flow (FLOW) +7.45%
• GateToken (GT) +6.23%
😭 Losers (Top-100)
• Internet Computer (ICP) -3.55%
• Ton Coin (TON) -2.72%
• ImmutableX (IMX) -1.23%
Gemini sends a letter to DCG
Gemini co-founder Cameron Winklevoss has just sent an open letter to Barry Silbert, DCG boss. The main demand is that DCG stops playing innocent 😇and return $900 million to Gemini. What an unexpected turn of events. In the letter, Cameron is saying that Barry is literally ghosting 🥶 him and all Gemini users with a solution to the Genesis situation, also known as the Genesis-Gemini situation, because Genesis is a lender to a still-frozen Gemini Earn product. The letter is a bit cheesy, as Gemini points out that its users have real problems, as if Genesis or DCG are the responsible ones. But they kinda really are. Cameron says DCG owes Genesis about $1.6 billion and Genesis owes that much to Gemini Earn users. Barry Sibert countered that they don't owe anything and that they didn't ghost and have actually submitted an offer in late December. Cameron said, "Are you going to commit to solving this by January 8 in a way that treats the $1.1 billion promissory bill as $1.1 billion, or not?" No response 🤡 from Barry Silbert.
Gemini clients file class action arbitration case
The class action lawsuit alleges that Genesis became insolvent 😵💫in the summer of 2022 and hid this from its lenders, such as Gemini, which led to Gemini Earn pause. They say Genesis deceived Gemini and its users by working with DCG, who backed Genesis in return for collecting $2.3 billion in debt from 3AC to Genesis. Gemini clients also said Genesis engaged in sales of unregistered securities. What a nice start 📈 of the year for this company.
Bitcoin core developer's wallets are compromised
One of the original Bitcoin core developers, Luke Dashjr, shared on Twitter that hackers managed to steal all of his Bitcoins from both hot and cold wallets. Around $3.6 billion, which is more than 260 BTC😡. At first he said it was a PGR attack, then he said it was something much broader as they managed to bypass two-factor authentication. He said he'll contact FBI, but somehow he's having trouble getting them to sign on. Some joked that it was an imposition for a Bitcoiner👺to go to FBI. Others simply doubted Luke's claims.
Solana is back with double digits
And who was dancing on Solana's grave 🙊? The New Year price pump! Solana is currently trading at $11.93, up 7% in the last 24 hours. 5.5% increase in the last 7 days. The reason for the pump is unclear, no one bet on SOL on New Year's Eve, maybe some read Vitalik's Twitter praising Solana's developers. Or is it a dead cat bounce🙀?
Conclusion: Back on track, my friends. The market is green, on which I warmly congratulate you. Solana is also on track, if you can say that with its lows, but this time not as low as usual. Bring your popcorn and follow the Gemini-Genesis saga. I doubt it'll end up being boring.
See you tomorrow, folks! Thanks for being with us.
Brought to you by Maksym, Yana, and Aleksandar :)
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What is Crypto Ping Pong digest?
TC lads here are working quite hard and from time to time we gotta chill. Recently, we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.
So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.