EP15 - The DCG & Genesis merry-go-round and Gemini lies

🤔 We explore the relationship between Gemini Exchange, its "Earn" program, Genesis Lending, and the role of Grayscale's Bitcoin & Ethereum trusts in what appears to be a perpetual leveraged merry-go-round.

Note to listeners: In the intro, I stated “it’s the 3rd week of January 2022”, which was a mistake. It’s 2023! oh, how time flies.

🚀 In this podcast we review:

• The complex relationship between Gemini Exchange, Genesis Trading, and Gemini’s Earn program

• Allegations of conflicts of interest between Genesis and Grayscale

• Questionable lending practices of Genesis

📚 Supporting content:

• Untangling Digital Currency Group

📹Watch the podcast on youtube:

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Cover art generated by DALL-E: “A roman art drawing of Leonardo da Vinci convincing Claude Monet to lower the collateralization requirements of his bitcoin loan in exchange for a higher interest rate”