• Ripple, a cryptocurrency firm, announced the elevation of former executive Monica Long to the position of President.
• Monica Long has been a part of Ripple since 2013 and has been credited for the company’s success during several crypto winters and hurdles in the market.
• Ripple’s CEO Brad Garlinghouse referred to Long as one of the most renowned figures in the industry in the press release.

Today, Ripple, a cryptocurrency firm, announced the appointment of Monica Long to the position of President. Long has been a part of Ripple since 2013 and has been credited for the company’s success during several crypto winters and hurdles in the market.

The press statement highlighted Long’s role in the development of the Ripple ecosystem, including her work on the introduction of On-Demand Liquidity (ODL), which is now used in 40 countries across several continents. Ripple’s CEO Brad Garlinghouse referred to Long as one of the most renowned figures in the industry in the press release. In addition, the CEO stated that even in the present difficult crypto landscape, Monica has helped led Ripple to a very exceptional point of development and financial health.

In her own words, Long expressed her excitement and immense pride for the opportunity. She stated that Ripple has made a profound impact on the financial industry, and she looks forward to continue to lead the company as President.

The firm is hopeful that Long’s promotion to President will help Ripple continue to lead the industry in the years to come. With Long’s leadership, the company’s already strong financial health is expected to continue. As the industry continues to evolve, Ripple is confident that Long’s forward-thinking and innovative ideas will help the company remain a leader in the space.

• Cameron Winklevoss, co-founder and CEO of the Gemini trading platform, threatened to sue Genesis Global and its parent company, the Digital Currency Group, following the bankruptcy filing of two of its subsidiaries.
• Cameron has been vocal about the Digital Currency Group’s complacency in settling Gemini Earn customers, who are owed $900 million.
• Cameron is taking legal action in order to recoup the funds owed to its customers.

Cameron Winklevoss, the co-founder and Chief Executive Officer (CEO) of the Gemini trading platform, has threatened to take legal action against Genesis Global and its parent company, the Digital Currency Group, following the bankruptcy filing of two of its subsidiaries. The move is an effort to recoup the funds owed to its customers.

The Barry Silbert-led DCG has been complacent in settling the debt owed to the customers of Gemini Earn, a program which pays out rewards to users who subscribe to the product. Cameron has been vocal about the Digital Currency Group’s refusal to offer its creditors a fair deal and is now taking legal action in order to recoup the funds owed to its customers.

The Gemini Earn program was launched in January 2021 and has since become popular among cryptocurrency traders. Unfortunately, the customers of the program have been unable to gain access to their funds as Genesis closed its doors, leaving them unable to access their money. The closure of Genesis left the customers of the program in limbo and the Digital Currency Group’s refusal to settle the debt has caused much frustration among the customers.

Cameron Winklevoss has taken to social media to express his dissatisfaction with the Digital Currency Group’s complacency in settling the debt. He has also threatened legal action in order to recoup the funds owed to its customers. Cameron believes that this move will afford the firm to recoup its funds and restore the trust of its customers.

The situation has been met with much criticism from the cryptocurrency community and the Winklevoss twins have been vocal in their efforts to ensure the debt is settled and the customers of the Gemini Earn program are given access to their funds.

It remains to be seen how the situation will be resolved, but it is clear that the Winklevoss twins are determined to take legal action in order to ensure the customers of the Gemini Earn program are given access to their funds and the debt is settled. This may be a long and drawn out process but it is one that the Winklevoss twins are willing to take on in order to protect the rights of their customers.

• Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt FTX Derivatives Exchange, maintains his innocence with respect to stealing users‘ funds.
• In a Thursday morning Substack letter, Bankman-Fried explained that the collapse of FTX and its sister trading firm, Alameda Research, is a function of the broader turmoil that the financial industry has recorded over the past year.
• SBF noted that Alameda Research failed to hedge its market exposure and as a result, lost approximately 80% of its value.

Sam Bankman-Fried (SBF), the founder and former Chief Executive Officer of bankrupt FTX Derivatives Exchange, has maintained his innocence with respect to stealing the trading platform users‘ funds as alleged by Federal Prosecutors. SBF took to the web Thursday morning to address the allegations in a Substack letter.

In the letter, SBF noted that over the course of 2021, the Net Asset Value of Alameda Research grew to $100 billion with $8 billion of net borrowing (leverage), and $7 billion of liquidity on hand. This growth, however, was not enough to protect the firm from the market turmoil that has been taking place across the financial industry over the past year. As a result, Alameda Research failed to hedge its market exposure, and was unable to prevent the firm from losing approximately 80% of its value.

SBF went on to explain that the failure of FTX and Alameda Research was due to a combination of factors, such as the risk inherent in the business, the lack of proper hedging, and the market volatility. He also noted that the firms‘ losses were not due to any fraudulent activity on his part, and that he was not responsible for the losses.

In the letter, SBF urged readers to take the time to understand the complicated nature of the financial industry and the risks associated with it. He also urged readers to look past the sensational headlines and learn about the reality of the industry.

At the end of his letter, SBF reiterated his innocence and his commitment to protecting the interests of trading platform users. He also promised to cooperate with the Federal Prosecutors in their investigation.

Overall, the situation regarding the collapse of FTX and Alameda Research is still ongoing, and it remains to be seen what the outcome will be. However, SBF has maintained his innocence on the matter, and is hoping that his Substack letter will help to clarify the situation and provide some insight into the complexities of the financial industry.

• On January 12th, the US Securities and Exchange Commission (SEC) charged crypto exchange Gemini and crypto lending firm Genesis Global Capital with offering and selling unregistered securities.
• The SEC claims that the Earn program constitutes the offering and sales of securities that should have been registered.
• The SEC also revealed that Genesis and Gemini generated assets worth hundreds of dollars from hundreds of thousands of investors.

The US Securities and Exchange Commission (SEC) recently charged crypto exchange Gemini and crypto lending firm Genesis Global Capital with offering and selling unregistered securities. According to the SEC’s complaint, the two companies launched a product called Gemini Earn in February 2021, which offered customers up to 8% yields for their loaned crypto assets.

In December 2020, Gemini and Genesis reached an agreement to provide customers with the yield-bearing product. Under the agreement, customers loaned their crypto assets to Genesis, which in turn repaid them with interest. The SEC claims that this constitutes the offering and sales of securities that should have been registered.

The SEC further revealed that Genesis and Gemini generated assets worth hundreds of dollars from hundreds of thousands of investors. As a result, the Commission elected to charge the two companies with offering and selling unregistered securities.

The SEC’s announcement is yet another reminder of the importance of registering securities with the Commission to ensure that investors are properly protected. It also serves as a warning to other companies in the cryptocurrency space that they should not engage in similar activities without first registering with the SEC.

Furthermore, the SEC’s action is a reminder to companies in the cryptocurrency space to take all necessary steps to ensure compliance with the Commission’s regulations. This includes registering with the SEC, as well as providing investors with accurate, complete, and timely information about the investments they are making. Companies should also ensure that their products and services meet the SEC’s standards for investor protection.

By taking these steps, companies can ensure that their products are available to the widest possible range of investors and that their investors are adequately protected from potential fraud or other risks. As the cryptocurrency space continues to evolve, companies should remain vigilant in their efforts to ensure compliance with the SEC’s regulations.