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🚀Gemini, the crypto exchange founded by the Winklevoss twins, has agreed to return a whopping $1.1 billion💰 to customers of its now-defunct Gemini Earn Program! This comes as part of a settlement deal with New York regulators. But wait, there's more! Gemini will also contribute $40 million to Genesis Global Capital's bankruptcy proceedings and pay a $37 million fine🔹. 📉Gemini Earn took a hit when FTX crashed in 2022, causing partner Genesis to halt withdrawals and file for bankruptcy💔. Over 200,000 Earn customers were left unable to access their fundsđŸ˜±. The New York DFS criticized Gemini for not conducting due diligence on Genesis, leading to significant financial harm for Earn customers. đŸ‘©â€âš–ïžGemini has promised to return "100% of their digital assets back in kind" to Earn users, but the settlement still needs bankruptcy court approvalđŸ›ïž. If approved, customers can expect to receive about 97% of their assets within two months and the remaining balance within 12 months📆. 🚧But Gemini's legal troubles aren't over yet! The exchange still faces legal actions from the US SEC and the New York Attorney General, who have sued for an alleged $3 billion fraud in relation to Gemini EarnđŸ”„. Stay tuned for more updates on this crypto rollercoaster! 🎱

🚀Gemini, the crypto exchange founded by the Winklevoss twins, has agreed to return a whopping $1.1 billion💰 to customers of its now-defunct Gemini Earn Program! This comes as part of a settlement deal with New York regulators. But wait, there's more! Gemini will also contribute $40 million to Genesis Global Capital's bankruptcy proceedings and pay a $37 million fine🔹.

📉Gemini Earn took a hit when FTX crashed in 2022, causing partner Genesis to halt withdrawals and file for bankruptcy💔. Over 200,000 Earn customers were left unable to access their fundsđŸ˜±. The New York DFS criticized Gemini for not conducting due diligence on Genesis, leading to significant financial harm for Earn customers.

đŸ‘©â€âš–ïžGemini has promised to return "100% of their digital assets back in kind" to Earn users, but the settlement still needs bankruptcy court approvalđŸ›ïž. If approved, customers can expect to receive about 97% of their assets within two months and the remaining balance within 12 months📆.

🚧But Gemini's legal troubles aren't over yet! The exchange still faces legal actions from the US SEC and the New York Attorney General, who have sued for an alleged $3 billion fraud in relation to Gemini EarnđŸ”„. Stay tuned for more updates on this crypto rollercoaster! 🎱

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🚀Hey there, Bitcoin enthusiasts! Brace yourselves for some exciting news! Bitrace, a leading data analysis company, is taking a stand against cryptocurrency-related crimes in Hong Kong. 🚔 They've been conducting training sessions on on-chain fund tracking for the Hong Kong Police Force. This initiative is part of Bitrace's Corporate Social Responsibility efforts, aiming to enhance law enforcement's understanding of blockchain technology. The training sessions were tailored for the Cyber Security and Technology Crime Bureau (CSTCB) and Commercial Crime Bureau (CCB), sharing insights and methods for investigating cryptocurrency-related crimes. Bitrace's tech experts demonstrated the usage and circulation methods of digital asset funds in activities such as online gambling, illicit trades, money laundering, and fraud. Bitrace CEO, Isabel SHI, expressed her honor in collaborating with the Hong Kong police officers, stating that improved legislation and enhanced prevention of crypto crimes will promote the development of Web3. In the past three years, Hong Kong has seen a significant rise in cryptocurrency-related crimes, almost tripling from 1,397 to 3,415 cases, with corresponding amounts surging from HKD 824 million to HKD 4.398 billion. In response, Hong Kong's Securities and Futures Commission (SFC) has ramped up its efforts in information disclosure, publishing extensive information about virtual asset trading platforms. This move aligns with the broader objective of offering transparent and timely information to the public. In other news, Hong Kong is on the brink of approving spot Bitcoin ETFs in the region, with two major mainland public fund companies added to the SFC's virtual asset management fund company list. Stay tuned for more updates! 🚀🚀🚀
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🚀🌕 Buckle up, Bitcoin enthusiasts! Despite a general decline in venture capital activity, Bitcoin startups saw a whopping 4x increase in funding in 2023, according to a report by Trammell Venture Partners (TVP). 📈 The number of Bitcoin-native pre-seed deals skyrocketed by 360% last year, and the number of funded Bitcoin companies rose by 56.9%. A Bitcoin native company, for those who might not know, is a firm whose product's success is intertwined with that of the Bitcoin network. 💾 While the total amount of Bitcoin venture dollars invested dipped by 12.5% to $305 million, the count of Bitcoin venture deals shot up by 69.2%. In comparison, the crypto industry saw a 64.5% drop and a 35.3% decrease in venture dollars and deals, respectively. 🎉 Some of the big investors last year included General Catalyst, Y Combinator, and Draper Associates. "While 2023 was a challenging year for the broader venture capital landscape, the Bitcoin-native sector not only weathered the storm but emerged stronger," TVL noted. 🔧 The surge in funding coincides with a revival of developer activity on Bitcoin, sparked by new technological capabilities discovered on the network. Rising transaction fees have developers looking for ways to build more effective Bitcoin layer 2 solutions, and funding is moving in that direction. 🎯 "Anecdotally I’ve never seen more bitcoin startups in my career," said CoinMetrics co-founder Nic Carter. "Pace right now is at least an order of magnitude greater than it’s ever been." So, keep your eyes peeled, Bitcoin is on the move! 🚀🌕
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🚀Buckle up, BTC enthusiasts! The crypto market just went through a wild ride, shedding over $400 billion in a two-day correction. đŸ˜± Bitcoin's price tumbled from $71,000 to $61,000, with the first dip blamed on US Federal Reserve statements and the second on escalating tension in the Middle East. 🌍 But don't hit the panic button just yet! đŸš« This isn't the first time BTC has faced a substantial correction ahead of a halving event. Some analysts even call it "normal." đŸ€” Remember, the next Bitcoin halving is just around the corner, which is often seen as a catalyst for future price increases. 📈 BTC's price has historically recovered from such dips. For instance, it bounced back after a similar reaction when Russia invaded Ukraine. 🌐 The upcoming price movements could be strongly related to the geopolitical tension between Israel and Iran. If the conflict is put down, BTC could recover swiftly. đŸ•Šïž Interestingly, this correction has allowed some savvy investors to strengthen their BTC stash. Whales have been particularly active, with one withdrawing nearly $40 million worth of BTC. 🐳 The upcoming halving event, which reduces block production by 50%, is expected to be completed on April 19. If demand remains the same or increases, the price should go up. 🚀 Most predictions see BTC soaring to somewhere between $150,000 and $200,000 within the next year or so. 🎯 But remember, history is no indication of future price performances. The recent $10,000 drop just five days ahead of its halving could be a 'buy-the-dip' opportunity or just the start of an even bigger retracement. Only time will tell! ⏰
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