Gemini co-founder Cameron Winklevoss has taken a firm stance against a crypto-staking platform Digital Currency Group (DCG), and its CEO Barry Silbert, issued a request to settle the ongoing dispute or face legal action.
In his second open letter to Silbert this year, Winklevoss expressed frustration with the alleged delays in resolving the matter concerning Gemini’s 232,000 Earn users. He accused Silbert of abusing the mediation process and causing unnecessary delays.
Gemini claims that approximately $1.2 billion in cryptocurrency is still owed to its Earn users since the collapse of Genesis, a crypto-staking platform, earlier this year. Winklevoss has set a deadline for Silbert to accept Gemini’s “best and final offer” by 4 pm ET on July 6, warning that failure to do so will result in a lawsuit filed on July 7.
BlackRock Refiles Spot Bitcoin ETF Application, Reveals Coinbase Partnership
BlackRock, a leading investment management firm, has resubmitted its spot Bitcoin exchange-traded fund (ETF) application and disclosed Coinbase as its undisclosed “surveillance-sharing” partner.
This crypto chart pattern move comes following a tumultuous week for ETF applicants, as the United States Securities and Exchange Commission (SEC) temporarily paused ETF applications from BlackRock, Valkyrie, Ark, WisdomTree, Invesco, and other firms due to improper paperwork. In response, many applicants have rushed to refile their applications.
Crypto Arbitrage: Poly Network Hack Exposes Potential Losses Over $10 Million
Blockchain interoperability platform Poly Network suffered a hack resulting in potential losses exceeding $10 million. Attackers exploited vulnerabilities in Ethereum, Binance Smart Chain, Polygon, Avalanche, Optimism, and several other blockchains.
According to cybersecurity firm Beosin, the attackers successfully liquidated approximately $10 million worth of stolen Ethereum. However, due to poor market liquidity, they failed to liquidate an additional $260 million.
This incident follows a previous hack on Poly Network two years ago, in which the platform lost a staggering $600 million, making it one of the largest bridge hacks in the history of Web3.
Emirex Token (EMRX) Shows Minimal Movement Amid Crypto Market Volatility
Emirex Token (EMRX) has exhibited limited volatility compared to the overall cryptocurrency market. On Tuesday, the token experienced a marginal 0.02% increase, reaching $0.2350141892.
While the crypto staking platform remains volatile, EMRX has shown relatively stable performance during the current trading session.
