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Crypto Critics' Corner
Two giant river boys and their missing $1,000,000,000: the Winklevoss Twins (Feat. Ed Zitron)
Apr 1, 2024
Ed Zitron discusses the Winklevoss Twins portraying themselves as regulated while breaking rules. Topics include Gemini's controversies, lack of trust in crypto, regulatory challenges, wealth perceptions, and decentralization ethics.
01:11:26
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Quick takeaways
- Gemini misrepresented as the most regulated, faced financial turmoil over misleading practices.
- Gemini Earn attracted billions but faced operational challenges due to fund mismanagement.
Deep dives
Winklevoss Twins' Financial Missteps and Controversies
The Winklevoss twins, known for their involvement in Facebook's early days and founding Gemini crypto exchange, have faced financial turmoil. They initially gained wealth from a settlement with Mark Zuckerberg and invested in Bitcoin, accumulating billions. Their Gemini exchange faced regulatory issues over market manipulation and questionable practices, like falsely marketing as the most regulated. Despite setbacks, they launched Gemini Earn, which attracted billions but eventually faced operational challenges.
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