This week on Crypto Twitter. Gemini vs Genesis, Week 2: The SEC enters

We are now into the second full week of 2023 and the patience and resilience of crypto fans has been has been awarded with the first big price jumps in a long time. Most of the leading cryptocurrencies by market capitalization have exploded by double-digit percentages over the past seven days.

However, no one is out of the woods yet. On Monday, Fox News reporter Charles Gasparino broke the latest gossip in the far-reaching FTX case.

Security Researcher and Forbes 30 Under 30 winner Jane Manchun Wong reported that day that Twitter wants to get in on the coin action and appears to be preparing for a digital economy of its own, although Twitter Coins likely won’t launch on the blockchain.

Minnesota Congressman Tom Emmer is finally getting a response from authorities after sending a letter last fall criticizing the government’s decision to ban crypto privacy tool Tornado Cash. The Treasury Department told Emmer it could not comment on pending litigation, and Emmer said he would be happy to wait to ask questions at a public hearing before the House Financial Services Committee.

His bitcoin buying habit may cause multi-million dollar losses for his country, but El Salvador’s authoritarian president, Nayeb Bukele, wanted everyone to know Wednesday that he’s still trading in bitcoin, and he’s taking his legislation to the next level to prove it.

The MetaMask Support Twitter account alerted users to the new exploit that day.

On Friday, Crypto.com co-founder and CEO Chris Marzalek announced that the exchange is preparing for a third round of job cuts. from Juneciting “negative economic developments”.

Finally, Sam Bankman-Fried wants you to know that she has a blog.

Gemini vs. Genesis. week 2

The aftershocks of the FTX collapse are still reverberating around the industry, spreading contagion, as highlighted by the new feud. last week Between crypto exchange Gemini and its creditor Genesis, which allegedly owes users of Gemini’s Earn product $900 million.

Gemini co-founder Cameron Winklevoss sent Barry Silbert to lead Digital Currency Group (DCG), which is wholly owned by Genesis.other open letter this week hurling more accusations of fraud, lies and greed at him. The DCG account called his claims a “desperate and unconstructive publicity stunt”.

During the week, Silbert shared a “DCG letter to shareholders” in which he called out “bad actors and strikes” that have “wreaked havoc on our industry.” He goes on to say that this year the industry’s “credibility and reputation” have been nearly destroyed by an “unprecedented wave of fraud and criminal behavior.” Silbert posted an abbreviated version of the letter in the next thread.

On Thursday, the United States Securities and Exchange Commission (SEC) got involved and filed new set of charges Against Gemini and Genesis, alleging that Gemini’s Earn product is an unlicensed security.

Gemini co-founder and CEO Tyler Winklevoss responded immediately, calling it “counterproductiveThe SEC’s move. Later in the thread, Winklevoss said Gemini was looking forward to defending against this “manufactured parking ticket.”

Minnesota Republican Congressman Tom Emmer strongly criticized the SEC’s approach.