This might go down as the most important week in crypto history
From political shakeups to game changing moves in infrastructure, the landscape is shifting fast!
Hereβs a quick recap of 6 major events you need to know
Letβs break it down π§΅
First and foremost, President Donald Trump was officially sworn in as the 47th president of the US on Monday. On Thursday, Trump issued an executive order setting forth a series of pro crypto policy initiatives including:
- Digital Asset Stockpile
- Digital Asset Working Group
- A Ban on CBDCs
Following this, SEC chair Gary Gensler stepped down and Mark Uyeda, a crypto friendly commissioner, will serve in the role until Trump appointee Paul Atkins is confirmed.
Meanwhile, Hester Peirce was appointed to run a task force that will shape regulatory policy for crypto assets.
1/ Itβs very sad to hear the news about Signature Bank. They have been incredible partners to Gemini and our industry for the better part of a decade.
We have zero customer funds and zero Gemini dollar (GUSD) funds held at Signature Bank.
2/ All Gemini customer U.S. dollars are held at JPMorgan, Goldman Sachs, and State Street Bank.
3/ All GUSD reserves are held at State Street Bank, Goldman Sachs, and Fidelity.
1/6 We are aware that Genesis Global Capital, LLC (Genesis) β the lending partner of the Earn program β has paused withdrawals and will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days. bit.ly/3An1TyW
2/6 We are working with the Genesis team to help customers redeem their funds from the Earn program as quickly as possible. We will provide more information in the coming days.
3/6 The past week has been an incredibly challenging and stressful time for our industry.