Better Offline How The Winklevoss Twins Lost A Billion Dollars
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Mar 1, 2024 Discover how the Winklevoss twins lost over a billion dollars in a shady loan scheme at their cryptocurrency exchange. From being conned by Zuckerberg to conning thousands into risky investments, the episode reveals financial chaos, fraud, and lawsuits in the crypto industry. Unveiling deceit, mismanagement, and legal battles, it showcases the lack of transparency and accountability in high-stakes dealings.
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Winklevoss Twins' Downfall
- The Winklevoss twins, known for suing Mark Zuckerberg, lost customer funds in a crypto scheme.
- They went from being portrayed as victims in "The Social Network" to perpetrators of fraud.
From Bitcoin Bet to Gemini
- The Winklevoss twins invested $11 million in Bitcoin in 2013, a bet that made them billionaires.
- They later founded Gemini, a cryptocurrency exchange, aiming for legitimacy in a fraudulent industry.
Gemini Earn: A Risky Venture
- Gemini launched an "Earn" program, promising interest on cryptocurrency deposits.
- However, the program wasn't secure, and funds were mishandled through risky loans.