What is 900MM missing between twins?
https://www.businessinsider.com/win...-exchange-owed-900-million-by-genesis-2022-12
"A crypto exchange run by the Winklevoss twins is owed $900 million by Genesis, a crypto broker, and its parent company Digital Currency Group, the Financial Times
reported.
Genesis, which has $2.8 billion in active loans according to its website,
tweeted that redemptions and new loans were being paused on November 16. The company cited "unprecedented market turmoil" resulting in a lack of disposable funds.
Gemini has a crypto lending product through its partnership with Genesis, which acts as its broker.
Genesis was caught up in the collapse of FTX and Gemini, the platform co-founded by Tyler and Cameron Winklevoss, is trying to recover its customers' funds, according to the FT."
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"A blockchain is just a very cumbersome and inefficient way to run a leger, it wastes a shit ton of resources but it does what it says on the label.
The reason all these crypto exchanges keep going under is that they are all "investing" in other crypto tokens and it's just an ecosystem filled with decentralized ponzi schemes. The crypto whales get the advantage of being "market makers" but they all have too many irons in the fire or believe their own bullshit and end up being bagholders or lending to future bagholders and like with any ponzi scheme once the money has been withdrawn the money has been withdrawn."
