Gemini – See the Reality https://www.seethereality.com Official Crypto News Website Mon, 26 Jun 2023 10:27:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://www.seethereality.com/wp-content/uploads/2023/03/cropped-onlinelogomaker-032123-0229-2177-32x32.png Gemini – See the Reality https://www.seethereality.com 32 32 Gemini permits Voyager clients to withdraw cryptocurrency https://www.seethereality.com/?p=32834 https://www.seethereality.com/?p=32834#respond Mon, 26 Jun 2023 10:27:38 +0000 https://www.seethereality.com/?p=32834

  • Voyager clients can create an account with Gemini to obtain their cryptocurrencies.
  • Nevertheless, cryptocurrency exchanges will solely enable supported tokens, and customers might lose unsupported property despatched to Gemini accounts.
  • Voyager Digital in 2022 July. filed for chapter safety.

Regulated cryptocurrency trade Gemini has added crypto withdrawal assist for patrons of bankrupt crypto lender Voyager Digital.

June 25 Gemini famous in a weblog put up that cryptocurrency transfers to Voyager victims are open till 2023. July. With a purpose to obtain assist, Voyager chapter victims might want to arrange a Gemini account to course of withdrawals.

“Till 2023 July 23 Voyager clients affected by the Voyager chapter can open a Gemini account and withdraw their cryptocurrency in type as required by the distribution course of.“, the inventory trade wrote.

Gemini permits you to withdraw solely supported tokens

in 2022 July. Voyager Digital has filed for chapter safety amid the cryptocurrency contagion following the collapse of Terra Luna and Three Arrows Capital (3AC). Prospects waited for withdrawals to reopen after the crypto lender suspended transactions as promoting strain intensified available in the market.

In Might this yr, clients obtained an enormous increase when the platform introduced that victims would quickly have the ability to recuperate their property in type. It’s predicted that clients can get 35% of their cryptocurrency deposits.

Whereas this implies clients will recuperate funds from the identical digital property held of their accounts earlier than withdrawals have been suspended and the next chapter submitting, accounts with unsupported property and the native Voyager Token, VGX, will recuperate them utilizing the USDC stablecoin.

All tokens not withdrawn by the top of the desired interval will probably be liquidated and the money proceeds distributed to the respective clients.

Voyager clients ought to notice that Gemini won’t enable withdrawals associated to unsupported tokens, and customers should “fastidiously verify” that they’re solely transferring supported tokens.

“Any unsupported tokens despatched to your Gemini account could also be misplaced and never totally recoverable. Additionally, sending tokens to Gemini over an unsupported community will end in a whole lack of funds,” Gemini warned.

]]> https://www.seethereality.com/?feed=rss2&p=32834 0 MakerDAO votes to scale back the GUSD held in DAI’s stablecoin reserve https://www.seethereality.com/?p=30253 https://www.seethereality.com/?p=30253#respond Wed, 14 Jun 2023 21:18:29 +0000 https://www.seethereality.com/?p=30253

  • MakerDAO might quickly take away 390 million from its reserves. USD Gemini Stablecoin GUSD.
  • The DAO is presently voting to scale back the utmost quantity of GUSD held within the Maker DAI stablecoin reserve to 110 million.
  • MakerDAO’s reserve presently holds roughly 88% of the whole GUSD provide.

MakerDAO, a decentralized lending platform and DAI stablecoin issuer, might quickly promote the Gemini Greenback (GUSD) stablecoin issued by the Gemini cryptocurrency alternate for $390 million.

The Peg Stability Module (PSM), voted on by the MakerDAO neighborhood, would cut back the utmost quantity of GUSD from 500 million. USD held within the Maker DAI stablecoin reserve to only $110 million.

At press time, about 94% of those that voted, with lower than 24 hours left earlier than the polls closed, assist the proposal to chop the GUSD.

Gemini Greenback (GUSD) Future

On condition that Maker controls about 88% of the stablecoin’s $568 million in circulating reserves, the vote may have a huge impact on the way forward for GUSD, which has had comparatively steady metrics. Maker helps the $4.5 billion value of DAI by holding cryptocurrencies like Circle’s USDC and GUSD in its reserve and investing in bodily property like bonds.

MakerDAO receives a 2% annual price from Gemini for utilizing the token as a reserve asset. Gemini is the writer of GUSD. Nonetheless, the proposal states that investing in short-term US Treasuries, which presently supply about 5 p.c. yield, the platform might reap the benefits of higher income alternatives.

The proposal states:

“A discount in GUSD publicity would permit for better capital effectivity by leveraging funds for better revenue technology alternatives.”

The vote to deduct GUSD from the DAI reserve comes a couple of days after The DAO voted for MakerDAO to drop the Pax Greenback (USDP) stablecoin from its reserves.

]]> https://www.seethereality.com/?feed=rss2&p=30253 0 Gemini intends to create a cryptocurrency derivatives platform exterior of the US https://www.seethereality.com/?p=16533 https://www.seethereality.com/?p=16533#respond Sat, 22 Apr 2023 12:36:41 +0000 https://www.seethereality.com/?p=16533
  • Gemini has introduced plans to create a cryptocurrency derivatives platform exterior of the US.
  • The brand new platform can even provide BTC futures contracts and different property for spot buying and selling.
  • The offshore change is a part of Gemini’s efforts to extend its international presence.

Gemini, the American cryptocurrency change owned by Winklevoss, is ready to launch a brand new cryptocurrency derivatives platform exterior of the US. The brand new offshore platform will enable customers from greater than 25 international locations to commerce spot and by-product merchandise. Merchants will be capable of commerce with a most leverage of 100x.

Based on a weblog publish not too long ago shared by Gemini, the brand new cryptocurrency platform can be known as the Gemini Basis. The platform’s first by-product can be a BTC futures contract denominated within the Gemini GUSD stablecoin. The Gemini Fund plans to introduce the ETH/GUSD Perpetual Contract quickly after the Bitcoin product goes stay.

Gemini Basis can be out there to shoppers from greater than 25 international locations, together with Bermuda, Singapore, India, Hong Kong, Thailand and Switzerland, amongst others. Nonetheless, shoppers in the US won’t be able to commerce on the brand new offshore derivatives platform.

The GUSD stablecoin would be the primary token of the Gemini Basis. To fund their buying and selling account, shoppers might want to convert their USD and USDC to GUSD at a 1:1 ratio. Within the meantime, all ongoing funding funds will should be made to GUSD. Platform charges in addition to P&L can be denominated in Gemini stablecoin.

The offshore cryptocurrency change is a part of Gemini’s efforts to extend its international footprint. Gemini is considered one of a number of cryptocurrency corporations trying to develop exterior of the US, given the hostile therapy of crypto entities by American regulators, together with the Securities and Change Fee (SEC). Gemini not too long ago introduced a brand new engineering middle in India and in addition appointed a brand new managing director for the Asia Pacific area.

]]> https://www.seethereality.com/?feed=rss2&p=16533 0 SEC regulatory motion forces US-based exchanges to withdraw stakes in Ethereum. https://www.seethereality.com/?p=15245 https://www.seethereality.com/?p=15245#respond Fri, 14 Apr 2023 13:28:35 +0000 https://www.seethereality.com/?p=15245

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]]> https://www.seethereality.com/?feed=rss2&p=15245 0 Tyler Winklevoss Challenge $30,000 in Bitcoin Earlier than Weekend Ends https://www.seethereality.com/?p=11200 https://www.seethereality.com/?p=11200#respond Tue, 21 Mar 2023 02:47:23 +0000 https://www.seethereality.com/index.php/2023/03/21/tyler-winklevoss-project-30000-in-bitcoin-before-weekend-ends/
  • Tyler Winklevoss believes Bitcoin will attain $30,000 within the subsequent two days.
  • Respondents imagine Bitcoin will outperform Winklevoss’ predictions.
  • An optimistic respondent predicts that Bitcoin will attain $100,000 by the top of March.

Gemini founder Tyler Winklevoss believes Bitcoin will attain $30,000 by the top of the weekend. Winklevoss made the prediction after the benchmark cryptocurrency surpassed its annual excessive of $26,533, which it hit following regulatory backlash over the continuing banking disaster in the US.

A number of respondents who tweeted after Winklevoss believed he was too conservative in his predictions, with some bluntly asking him to “suppose larger.”

After a three-week retreat, bitcoin resumed its revival, beginning the yr on a excessive. When the value rose from under $16,000 to $25,270, the value route modified, with a 22.65% consolidation seen in 2023. firstly of March.

Volatility returned to the market after stories of the collapse of Silicon Valley Financial institution and Silvergate Financial institution surprised the US monetary sector. As panic units in, traders search for different autos, and Bitcoin, with your complete crypto market, appeared like a protected haven.

The inflow of funds into the Bitcoin market has seen the value rally from a neighborhood low of $19,569, surpass its preliminary excessive for the yr, and commerce above $27,000 in a single week. Bitcoin worth is up 41.98% in the course of the present rally and the upward momentum stays sturdy because the bulls proceed to push larger ranges.

Bitcoin’s rising worth coincides with a number of predictions for the reason that begin of the yr that recommend the extended bear market will finish when 2022 involves an finish. Bitcoin’s market capitalization fell under $1 trillion on the finish of 2018. Some customers imagine that the present transfer will improve the worth of Bitcoin till 2022. at a better stage in preparation for the following halving occasion scheduled for 2024. March.

Winklevoss’s prediction appears a extra real looking aim than the respondent who predicted that Bitcoin would attain $100,000 by the top of March.

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