![]() ![]() ![]() If first friend awkwardly offered to buy drinks or somehow otherwise make me partially whole, I'd probably feel better about it. I'd also probably be extremely hesitant to do future trades with the first friend. I'd probably also feel mad at myself for making that second trade. Gemini is in discussions with Genesis, the UCC, and the AHG regarding appropriate next steps. 'It sounded really safe,' Peter Chen, a data scientist in San Diego, who started putting money in Earn in late 2021, told Axios. Ethereum, GUSD or any of the 60+ coins available on Gemini. It would make me think less of both friends, but mostly the second one. Customers who put their cash and cryptocurrency into Gemini Earn thought it was secure, akin to a savings account at a bank. With the Gemini Credit Card, you can earn rewards in bitcoin, ethereum or 40+ other cryptos. Assume in this scenario that all of you are friends, but that the other two are better friends with each other than you. The Gemini dollar is a cryptographic token built on the Ethereum network according to the ERC-20 standard, and is strictly pegged 1:1 to the U.S. The second thing kinda sounded like a risky proposition to begin with. Second friend hasn't returned with my comic books, and it's looking like he might not ever come back.ĭoes the first friend with my $500 owe it to me to give me my money back? It's kinda murky territory. However, the downside risk is if whatever investment Gemini’s made goes south, you aren’t guaranteed to get your GUSD back. ![]() Whatever it’s been doing is obvs lucrative enough to give out 8.05 on GUSD deposits. Once he returns, he would give me all of my comic books back and a couple extra from his trip. Once you give Gemini your GUSD via Earn, Gemini can take that GUSD and lend/invest for greater returns. Another friend told me that if I let him borrow all or some of the comic books for an overseas trip. Seems more like I gave my friend $500 and he gave me $500 worth of comic books in return. So let's say more and more investors use Gemini from now on, Gemini has to increase its reserve to match overall customer holdings? And the fiat and digital are stored off the exchange so that in the event the Gemini Exchange collapses, they are able to refund us ? But then again if the exchange collapses, what are they gonna use as a medium for the fiat / digital assets transfer? Gemini holds customer digital assets in accounts that are segregated from our assets. We do not do anything with your digital assets unless explicitly authorized and directed to do so by you." Gemini holds customer fiat currency in accounts that are segregated from our business, operating, and reserve bank accounts established specifically for the benefit of Gemini customers. We do not do anything with your fiat funds unless explicitly authorized and directed to do so by you. This means that all customer funds held on Gemini are held 1:1 and available for withdrawal at any time. "Gemini is a full-reserve exchange and custodian. The Gemini dollar was designed to provide a transparent and regulatory compliant connection between traditional financial systems, which are based on fiat currencies, and the ever-growing blockchain industry. ![]()
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