THE HASH: The SEC Targets Gemini and Genesis; FTX is Granted Permission to Sell LedgerX
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 January 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Friday, January 13, 2023.
"The Hash" group discusses today's top stories, including allegations that Cameron and Tyler Winklevoss' cryptocurrency exchange Gemini and cryptocurrency lender Genesis Global Capital sold unregistered securities. Plus, to repay creditors, FTX has been cleared by a bankruptcy judge to sell four key units, including derivatives arm LedgerX. And finally, the crypto winter deepens as Crypto.com becomes the latest company to announce its job cuts in 2023.
Disclosure: Genesis and CoinDesk are both owned by DCG.
See also:
FTX Cleared to Sell LedgerX, Japanese Units by Bankruptcy Judge
Former SEC Lawyer Says Agency Pushing to Be Crypto Regulator With Gemini/Genesis Suit
SEC Alleges Gemini, Genesis Sold Unregistered Securities
Crypto.com Cuts 20% Workforce as Firm Braces for Crypto Winter
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:10.1 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, |
| 0:15.0 | with stories that matter to the crypto world, all on the hash for your ears. |
| 0:20.9 | You're listening to the Coin Desk Podcast Network. |
| 0:25.7 | Happy Friday, everyone. |
| 0:27.6 | It's Friday, and you're watching the hash and listening to the hash where we bring you |
| 0:32.4 | the latest and greatest in crypto news. |
| 0:35.1 | I'm Jen Sanasi. |
| 0:36.0 | We got Will Foxley, Adam Beebeee, and Zach Seward with us today. |
| 0:41.5 | Zach has the top story of the day. Take it away, Zach, what's going on over at the SEC? |
| 0:46.8 | Well, when it rains, it pours, and Gemini and Genesis have been in the news quite a bit lately, |
| 0:51.8 | but not for this. This is new. The SEC wants to get in |
| 0:54.8 | the act and says that the yield product that Gemini was offering by way of Genesis called |
| 0:59.8 | Gemini Earn was an unregistered securities offering. Now, this is in keeping with past actions. |
| 1:04.8 | The SEC has taken against BlockFi and others. We're going to take a nice little look at a video |
| 1:10.1 | that the SEC tweeted out |
| 1:11.7 | from Gary Gensler. Let's check it out. Roll the tape. Platforms that offer crypto lending need to |
| 1:17.2 | comply nonetheless. This helps protect investors. It increases trust in our markets. Getting these |
| 1:23.9 | platforms to comply with the securities laws will benefit investors and the crypto market. |
| 1:30.1 | As with seatbelts and cars, we need to ensure that investor protection comes standard in the crypto market. |
| 1:37.3 | Cool metaphor. Old video. That's a rerun. I'm pretty sure from the BlockFi settlement. |
| 1:42.0 | So they're out there just rehashing old content for the |
... |
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