IRA Financial Trust to sue Gemini over $36M crypto assets exploit back in Feb...
It's unclear at the time of publication whether there will be any recourse for investors in recovering the lost funds. On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers' digital assets during a critical exploit. The firm's client accounts were held in Gemini's custody. On February 8, a breach led to the siphoning of $36 million in crypto assets from customers' accounts via unauthorized withdrawals. Since then, both companies....
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The exclusive United States specific bitcoin exchange, Gemini is one step closer to beginning its operations from New York. The company founded by Tyler and Cameron Winklevoss, better known as the Winklevoss Twins has filed the necessary paperwork with the New York State Department of Financial Services. According to Gemini's spokesperson, the Winklevoss twins are said to have completed the formality of filing the trust application with the government so that they can start operating as a trust company. A trust company, according to the definition of the State of New York is a financial....
Entrepreneurs Cameron and Tyler Winklevoss have filed an application for a limited liability trust company in New York. The filing for Gemini Trust Company, if approved by the New York State Department of Financial Services (NYDFS), would enable the Winklevoss brothers to launch Gemini, their forthcoming bitcoin exchange product first announced in January. The announcement notably follows itBit's May announcement that it received a trust company charter from the NYDFS. Under New York banking law, trust companies are financial institutions that, while unique from banks, are able to take....
Investors have been watching and waiting for the launch of Gemini, the bitcoin exchange launched by Cameron and Tyler Winklevoss, since it was first announced on January 23. The wait is over. Customers have been begun receiving instructions for onboarding and will be able to officially begin trading on the Gemini exchange starting Thursday, October 8 at 9:30 a.m. EST. The nine months it took for Gemini to go from announcement to launch is due to a belief in the need to "ask for permission, not forgiveness." However, on September 23, Gemini Trust Company received approval for its Articles....
Gemini, the New York-based bitcoin exchange currently being developed by investors Cameron and Tyler Winklevoss, has received two key approvals from the New York State Department of Financial Services (NYDFS). Gemini Trust Company received approval on 23rd September for its Articles of Organization, and was granted an exemption from the deposit insurance requirements of Section 32 of the Banking Law, steps president Cameron Winklevoss said put it on the "one yard line" for completing its current goal of entering the US market. Cameron Winklevoss explained that, with its Articles of....
For the first time, Gemini Trust Co., a crypto exchange established by two brothers, Tyler and Cameron Winklevoss, has announced a 10% reduction in employment due to the overall industry decline. Gemini is a United States-based regulated crypto exchange established in 2014, providing services to its customers to trade digital currencies, including Bitcoin, Ethereum, and […]