From the New York Post, September 27:
Cameron and Tyler Winklevoss secretly withdrew more than $280 million held by their crypto company’s bank — mere months before the firm’s collapse left the twins’ customers unable to access their deposits, The Post has learned.
The Winklevoss twins, best known for their bitter feud with former Harvard classmate Mark Zuckerberg over control of Facebook, have lately been embroiled in another nasty legal battle — this time with billionaire Barry Silbert, whose company Digital Currency Group owns the now-bankrupt crypto bank Genesis.
The twins are cofounders of Gemini, a once-rising digital currency exchange that has been plagued this year by layoffs and plunging trading volume.
Some $900 million in Gemini customer deposits were frozen last Nov. 16, after Genesis was exposed to the meltdown of disgraced Sam Bankman-Fried’s FTX empire and forced to suspend withdrawals.
The feud between the Winklevoss twins and Silbert is centered around Gemini Earn — an interest-bearing account program that they billed to customers as a way to earn 8% annual interest on their digital currency deposits....
....MUCH MORE
Also in Scandal:
Sam Bankman-Fried warned by judge he may face ‘very long sentence’ if convicted
Sam Bankman-Fried, the indicted founder of now-bankrupt cryptocurrency exchange FTX, may face a “very long sentence” if convicted at his fraud trial starting next week, the judge overseeing the case said Thursday.
US District Judge Lewis Kaplan’s comments came just before he denied the 31-year-old former billionaire’s request to be released from jail temporarily during the trial to better help his lawyers mount his defense case. Kaplan said Bankman-Fried was a flight risk.
“Your client in the event of conviction could be looking at a very long sentence,” Kaplan said in a hearing in Manhattan federal court. “If things begin to look bleak … maybe the time would come when he would seek to flee.”....
....MUCH MORE
And fronting Scandal, Ms Smyth:
