Cameron Winklevoss Gives ‘Final Warning’ to Barry Silbert and Digital Currency Group After Alleged Debt Delinquency

July 5, 2023 The Daily Hodl

Is this the start of the next bull run?

July 5, 2023 Coin Telegraph

On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses whether Bitcoin touching $31,000 is a sign that the next bull run is right around the corner.

In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses the latest change to the BlackRock spot Bitcoin exchange-traded fund (ETF) filing , which adds Coinbase as a “surveillance-sharing partner.“ Some analysts have signaled that the filings by BlackRock, Fidelity and others are responsible for the recent Bitcoin (BTC) rally toward $31,000, but according to Pechman, they’re only partially correct because it doesn’t indicate the United States Securities and Exchange Commission (SEC) will accept any of the ETF filings.

Pechman argues that in the case of a refusal by the SEC, a court decision may be needed. The SEC could be required to explain the rule for existing spot ETF markets, such as gold and oil, with the judge deciding if the same methodology has been applied to Bitcoin.

As for the recent Bitcoin rally, Pechman believes it was justified. Still, given the history of multiple consecutive spot Bitcoin ETF rejections, and complaints regarding wash trading and price-making on Tether-based exchanges, one should not give it a 60% probability of approval.

Consequently, Pechman believes that the $30,000 support price for Bitcoin remains at risk due to macroeconomic uncertainties, weak stock market performance and the harsh regulatory environment toward cryptocurrencies.

On to the show’s next topic, Pechman explains how crypto exchange Gemini’s Earn program has been severely impacted by Genesis Global Trading — a Digital Currency Group (DCG) subsidiary — and why the Winklevoss brothers knew what the risks were.

But, regardless of DCG CEO Barry Silbert’s actions, investors believe $25 billion in crypto is at risk. As Pechman highlights, DCG owns Grayscale, which manages the Grayscale Bitcoin Trust — a tradable investment fund worth $19 billion — and a similar instrument for Ether, holding $6 billion.

Listen to the full episode of The Market Report for Pechman’s opinion on the odds of a Grayscale fund liquidation and whether the bull market has arrived. The show runs exclusively on the new Cointelegraph Markets & Research YouTube channel.

Cameron Winklevoss Says SEC’s Crypto Policies Have Been Complete Disaster for US Investors

July 4, 2023 The Daily Hodl

‘The Great Accumulation’ of Bitcoin has begun, says Gemini’s Winklevoss

June 22, 2023 Coin Telegraph

Anthony Pompliano

With spot Bitcoin ETFs filings helping boost the price of Bitcoin, some suggest the “window to front-run institutional demand is closing.”

Recently renewed optimism for an approved Bitcoin (BTC) spot exchange-traded fund (ETF) is igniting “The Great Accumulation Race” for Bitcoin, according to industry pundits.

Over the past week, Fidelity, Invesco, Wisdom Tree and Valkyrie have followed investment giant BlackRock in applying for a Bitcoin spot ETF with the United States Securities Exchange Commission, which some analysts believe is the reason for Bitcoin’s 19% price surge to $30,240 since June 16.

5 Bitcoin ETF applications in 5 days!
- Blackrock
- Fidelity
- Invesco
- Wisdom Tree
- Valkyrie
— Lark Davis (@TheCryptoLark) June 21, 2023

Cameron Winklevoss, the co-founder of cryptocurrency exchange Gemini, stated on June 21 that he believe“The Great Accumulation” of Bitcoin has begun between institutions and retail investors.

He suggested that buying Bitcoin prior to the ETFs hitting the public market is akin to that of a pre-Initial Public Offering purchase and suggested that the “floodgates” for buying Bitcoin are “closing fast.”

The Great Accumulation of bitcoin has begun. Anyone watching the flurry of ETF filings understands the window to purchase pre-IPO bitcoin before ETFs go live and open the floodgates is closing fast. If bitcoin was the most obvious and best investment of the previous decade, this…
— Cameron Winklevoss (@cameron) June 21, 2023

MicroStrategy Chair Michael Saylor weighed in on the subject in his own post, suggesting that retail investors may soon be pushed aside by increasing institutional demand:

“The window to front-run institutional demand for Bitcoin is closing.”

Bitcoin is currently trading hands for $30,240, while the Crypto Fear and Greed index has skyrocketed from 49 (Neutral) to 65 (Greed) in just the last two days.

*Bitcoin Fear and Greed Index at 65 as of June 22. Source: Alternative.me*

In a June 21 interview with CNBC, Bitcoin investor Anthony Pompliano said he expects a tug-of-war to play out between retail investors and Wall Street:

“We have institutions and individuals scrambling to try to get their share of the 21 million Bitcoin that will ever be in existence. The retail investor for 15 years now has a head start and has accumulated all the Bitcoin that’s been mined and put into circulation, but 68% of that hasn’t moved in a year.”

“People forget that bitcoin went from $0 to nearly $1 trillion market cap with almost no institutional participation,” said Pompliano in a June 21 Twitter post.

So when “Wall Street and BlackRock show up to the market,” Pompliano expects Bitcoin to become “highly illiquid” because retailers “don’t want to sell to Wall Street,” he added during the CNBC interview.

BlackRock shows up and bitcoin is up 20% for the week.

People forget that bitcoin went from $0 to nearly $1 trillion market cap with almost no institutional participation.

If retail investors were good for $1T, what do you think happens when the deep pockets come play?
— Pomp (@APompliano) June 21, 2023

Meanwhile, Dylan LeClair, a Bitcoin analyst and founder of 21st Paradigm explained that Bitcoin’s price is now “extremely inelastic” — “more so than ever” — amid the recent ETF filings, which are serving as a “catalyst” for large amounts of new flows into the market.

However, LeClair predicts that no ETF application will be approved by the SEC until January or February 2024 at the earliest.

Bitcoin's supply is extremely inelastic, more so than ever currently.

A spot ETF is obviously a catalyst for a large amount of new flows to come into the market, which not only has changed the narrative but has prompted others to front run said future flows.

TLDR: Send it. pic.twitter.com/Jd8Gm8o3Mx
— Dylan LeClair (@DylanLeClair_) June 21, 2023

Magazine: Hall of Flame: William Clemente III tips Bitcoin will hit six figures toward end of 2024

Winklevoss Twins Say Democrats Will Face Blowback From Voters After Anti-Crypto Stance

June 12, 2023 The Daily Hodl

Cameron Winklevoss claims regulatory double standards over banking crisis

April 27, 2023 Coin Telegraph

Cameron Winklevoss

The CEO of Gemini says things would’ve been handled differently if First Republic was a "crypto" bank.

Cameron Winklevoss, the co-founder, and CEO of New York-headquartered crypto exchange Gemini, has accused U.S. regulators of perpetrating double standards in handling the First Republic Bank crisis.

According to Winkelvoss, if First Republic had been a “crypto bank” it would have been “assassinated weeks ago.”

It is important to note that First Republic initially began experiencing “structural challenges” with its balance sheet at the time that Silicon Valley Investment Bank and Silvergate Bank were being closed down by federal regulators or winding down operations.

First Republic Bank is down another 35% and falling fast. If this was a "crypto" bank it would have been assassinated weeks ago. The fact that is hasn't been taken into receivership shows just how blatant the double standard is.
— Cameron Winklevoss (@cameron) April 26, 2023

Winklevoss’s claims align with a series of recent letters penned by three Republican members of the United States House of Representatives Financial Services Committee in an attempt to seek further information on possible coordinated efforts taken against crypto companies operating on U.S. soil.

According to a report from CNBC on April 26, the advisors to First Republic will now seek to coax larger U.S. banking institutions — which have already sent the embattled firm more than $30 billion — into providing more financial aid due to the government refusing to take the bank into receivership.

Both Silvergate and Silicon Valley Bank were taken into government receivership on March 8 and March 10 respectively.

Advisors at First Republic reportedly said that the current private market solution to the firm’s liquidity problems would see the bank remain in operation. However, government receivership is being referred to as the “closed-bank” scenario.

Charles Gasparino, Senior Correspondent at Fox News informed his 160,000 Twitter followers on April 26 that the “private bailout” is being pushed by the U.S. Treasury Secretary Janet Yellen who doesn’t want to bail out depositors with government funds as they did with Silvergate and Silicon Valley Bank.

Scoop: Execs at banks involved in the @firstrepublic imbroglio say latest private sector bailout is actually being pushed by @SecYellen & Co who, unless pushed to the brink, dont want to be bailing out ALL depositors as they did w SVB and Signature. Still a heavy lift. Developing
— Charles Gasparino (@CGasparino) April 26, 2023

Things came to a head for First Republic on Monday, April 23, when the beleaguered firm reported in its Q1 earnings call that total deposits had plummeted by more than $100 billion. The firm stated that it would be “pursuing strategic options” to strengthen its financial standing as quickly as possible.

Since Monday, shares in First Republic Bank have collapsed more than 64%, falling from $16.14 to just $5.68 at the time of writing.

*First Republic Bank share price since Feb. 2, 2023. Source:* TradingView.

The downfall of First Republic Bank is believed to be providing a tailwind for investment into Bitcoin and other cryptocurrencies, as investors grow increasingly distrustful of centralized banking institutions.

At the time of writing Bitcoin (BTC) was trading for $29,279 up 7% over the last seven days according to data from the Cointelegraph Price Index.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Crypto’s next bull run will come from the East: Gemini co-founder

February 20, 2023 Coin Telegraph

Arthur Hayes

Gemini co-founder Cameron Winklevoss believes the next crypto bull run will come from Asia, while America has two options — embrace crypto or be left behind.

Crypto's next bull run will start in Asia, according to Cameron Winklevoss, an American investor, and co-founder of crypto exchange Gemini.

His comments have come amid an increase in enforcement action and looming crackdowns from United States regulators, including the Securities and Exchange Commission (SEC).

“My working thesis atm is that the next bull run is going to start in the East,” said Winklevoss in a Twitter post on Feb. 19.

"It will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind.”

"It can't be stopped. That we know," he added.

According to Chainalysis, Central & Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market in its index for 2022. Citizens from these areas received $932 billion in cryptocurrency value from July 2021 to June 2022.

CSAO was also home to seven of the top twenty countries in 2022's index: Vietnam (1), the Philippines (2), India (4), Pakistan (6), Thailand (8), Nepal (16), and Indonesia (20).

My working thesis atm is that the next bull run is going to start in the East. It will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind. It can't be stopped. That we know.
— Cameron Winklevoss (@cameron) February 19, 2023

In his Twitter thread, Winklevoss saidthat governments who fail to offer clear rules and sincere guidance on crypto will be "left in the dust," and miss out on "the greatest period of growth since the rise of the commercial Internet,” adding:

"And it will mean missing out on shaping and being a foundational part of the future financial infrastructure of this world (and beyond).”

Winklevoss is neither the first, nor last, to suggest that the United States' approach to crypto will drive away the industry, or that Asia could kick off the next crypto growth cycle.

Coinbase CEO and co-founder Brian Armstrong said the stringent actions from U.S. regulators, including the SEC, could further drive crypto businesses offshore.

Meanwhile, an independent market analyst on Twitter — known as GCR — has also prophesied that "China, (and Asia in general) will fuel the next run," in a Jan. 8 post to their 147,300 followers.

"It will take quite some time to melt Western cynicism towards this space, but the East is ascending and yearning to flex."

I believe China, (and Asia in general) will fuel the next run

It will take quite some time to melt Western cynicism towards this space, but the East is ascending and yearning to flex

You should be hanging out in WeChat
Many future pumps will be on coins none of your circle know
— GCR (@GCRClassic) January 9, 2023

Arthur Hayes, the former CEO of crypto derivatives giant BitMEX, made a prediction last October that the next bull run will start when China moves back into the market and went one step further to say Hong Kong has a vital part to play in this process.

Hayes argued that Hong Kong might become the testing ground for Beijing to experiment with crypto markets and act as a hub for Chinese capital to find its way into the global crypto markets.

At the time, he said "China has not left crypto — it has just been dormant."

Earlier this year, Hong Kong's financial secretary, Paul Chan made a Jan. 9 speech at the POW'ER Hong Kong Web3 Innovators Summit, where he revealed lawmakers passed legislation to set up a licensing system for virtual asset service providers in December.

As a result of the changes in legislation, a "Chinese Coins Pump" narrative has been gaining traction as speculation grows over whether the regulatory easements in Hong Kong will lead to a massive surge for Asian-based crypto tokens.

Cameron Winklevoss