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Gemini & DCG Dispute Highlights Crypto Industry Risks

• Digital Currency Group’s (DCG) Genesis Global Trading has had a dispute with Gemini over a crypto lending product.
• DCG is reportedly looking to sell some of its venture-capital portfolio, worth around $500 million, to pay off its creditors.
• Lumida CEO and co-founder Ram Ahluwalia weighed in on the tensions between the two companies.

Trouble has been brewing between the Winklevoss twins‘ crypto exchange Gemini and Digital Currency Group’s (DCG) Genesis Global Trading, partner on a crypto lending product pitched to smaller investors. On Thursday, the Financial Times reported that the tension between the two companies had escalated, as Gemini terminated a key aspect of their relationship.

The issue at hand is that Genesis reportedly owes its creditors over $3 billion, prompting its parent company, DCG, to look at selling some of its venture-capital portfolio, worth around $500 million. Lumida CEO and co-founder Ram Ahluwalia weighed in on the tensions between the two companies, saying: “It is a pretty big deal when one of the largest crypto companies in the world has to sell its venture-capital portfolio to pay off its creditors.”

The FT noted that the dispute between DCG and Gemini is complicated and goes beyond the $3 billion owed to creditors. According to sources, the two companies have been in a dispute for several months and have been unable to agree on a resolution. The report also said that DCG is seeking to resolve the matter with Gemini but that the latter is unwilling to negotiate.

As the two companies continue to dispute their relationship, the fate of DCG’s venture-capital portfolio remains uncertain. If the company is forced to sell it, it could have a negative impact on the crypto industry, as it could lead to a disruption in the capital and resources needed to develop the industry.

The dispute between the two companies has put a spotlight on the risks associated with investing in the crypto space, as the lack of regulatory oversight can lead to companies failing to meet their obligations. It also highlights the need for greater transparency and accountability in the industry, as investors need to be able to trust the companies they are investing in.

Overall, the dispute between Gemini and DCG underscores the need for increased regulation in the crypto space and greater transparency from companies operating in the industry. It also serves as a reminder of the risks associated with investing in a nascent and largely unregulated market, and the importance of doing due diligence before investing in any project or company.

TON Foundation Unveils ‚TON Storage‘ Data Storage Platform

• TON Foundation, the stewards of the TON network, has unveiled a data storage ecosystem called TON Storage that aims to enable users to exchange files of any size while providing financial incentives to node operators for hosting files.
• The project aims to enable users to exchange files of any size while providing financial incentives to node operators to host files for users.
• The TON Storage platform is designed to solve the problem of large-scale data storage.

The TON Foundation, the stewards of the blockchain network TON, has unveiled their latest project, TON Storage. This platform is designed to provide a solution for large-scale data storage problems. The project is aimed at enabling users to exchange files of any size, while also providing financial incentives to node operators for hosting these files.

The TON Storage project is an ecosystem that is built on top of the TON blockchain, and it is expected to provide secure, fast, and reliable data storage solutions. The platform is designed to provide strong economic incentives in the form of rewards to node operators who are hosting user files. This is done through the use of smart contracts on the TON blockchain. The node operators can earn rewards for hosting files, and the users can pay for the storage without having to worry about the security of their data.

The TON Storage platform also provides a number of other features that are designed to make it easier for users to store and access their data. The platform provides a number of different protocols that allow users to access and transfer their data. There is also a data replication feature that allows files to be stored in multiple locations, which helps to protect the data from being lost if one of the nodes fails.

The TON Foundation is hoping that the TON Storage platform will help to create a more efficient and secure data storage system. It is also expected to help reduce the cost of data storage, as well as provide users with more control over their data. The TON Foundation is also working on new features that will be added to the platform in the future.

The launch of the TON Storage platform is a major step forward in the development of the TON blockchain, and it is expected to help make the network more secure and efficient. It is also expected to help reduce the cost of data storage and provide users with more control over their data. The TON Foundation is hoping that the TON Storage platform will be able to make a big impact on the crypto storage market, and the future of the blockchain.

Gain Exposure to Coinbase with 40% Annual Coupon and Partial Downside Protection

• Marex Solutions, a derivatives-focused division of the London-based financial services provider Marex, has issued a Coinbase (COIN) linked structured product.
• This six-month barrier reverse convertible (BRC) note offers a guaranteed annual 40% coupon paid monthly, providing holders with regular cash flow.
• The note has a predefined „barrier“ at 66% of the Nasdaq-listed stock’s price, and if the barrier is hit or breached, the partial downside protection disappears, and the holder will be allocated COIN shares at $25.

Marex Solutions, a derivatives-focused division of the London-based financial services provider Marex, recently unveiled a Coinbase (COIN) linked structured product that offers enhanced coupons in return for only partially protecting capital risk on the cryptocurrency exchange’s shares. Investors have been drawn to the product due to Coinbase’s increasing market share in the wake of rival FTX’s collapse.

The six-month barrier reverse convertible (BRC) note issued Wednesday by Marex’s FCA regulated entity Marex Financial offers a guaranteed annual 40% coupon paid monthly, providing holders with regular cash flow. It also has a predefined „barrier“ at 66% of the Nasdaq-listed stock’s price – $37.8 on the issue date. As long as the shares stay above $25 during the term, Marex Financial will repay the invested amount in full at expiry. If the barrier is hit or breached, the partial downside protection disappears, and the holder will be allocated COIN shares at $25, exposing them to market vicissitudes.

Ilan Solot, from Marex Solutions, said that the structured product is an attractive option for investors who prefer to express their view on Coinbase via structured products. He said that the product offers a „unique way to participate in the growth of the leading crypto exchange, while also offering a competitive return and the ability to benefit from high levels of liquidity.“

The product has been issued with a minimum denomination of £50,000 and is available to both institutional and retail investors. It is being sold by Marex Solutions‘ network of brokers, including Bank of America, Goldman Sachs, and JP Morgan.

Overall, the Coinbase-linked structured product is an attractive option for investors seeking to benefit from the growth of the leading crypto exchange while also enjoying a competitive return and high levels of liquidity.

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