Winklevoss Brothers: From Jail to the White House? You Won’t Believe This! 😂

So, at this recent White House crypto summit, you’ve got Tyler and Cameron Winklevoss, the Gemini guys, sitting there like they’re the kings of the crypto castle. Can you believe it? From being under the regulatory microscope to rubbing elbows with the big shots in D.C. Talk about a glow-up! 🌟

Crypto czar David Sacks, who I guess is the crypto version of a hall monitor, turns to Cameron and says, “Hey, remember when you thought you’d be in jail instead of here?” I mean, who wouldn’t want to be at the White House instead of a cell? But really, who’s keeping track? 🙄

Cameron and Tyler Winklevoss speaking at the Crypto Summit 🇺🇸

— Gemini (@Gemini) March 7, 2025

And then Cameron’s like, “Actually, that was Tyler who said that.” Classic twin move, right? Blame it on your brother! They never thought they’d get attacked in their own backyard after trying to play by the rules. It’s like getting mugged while holding a sign that says “I’m a good person!”

“We’ve always felt the U.S. should lead in Bitcoin and crypto,” he says. Sure, buddy, but maybe don’t lead with a giant target on your back next time! 🎯

‘It’s the law’

Now, let’s talk about Gemini Earn. This was supposed to be the golden ticket, but instead, it turned into a ticket to the SEC’s courtroom. They let users earn interest by lending their crypto to Genesis Global Capital, which sounds fancy until you realize it’s like lending your lawnmower to the neighbor who never returns it. When Genesis stopped withdrawals, poof! $900 million vanished. Talk about a magic trick! 🎩✨

Then the SEC swoops in like a hawk, claiming Gemini Earn was an unregistered offering of securities. I mean, who knew lending your crypto could land you in hot water? And the public spat between the Winklevoss twins and Barry Silbert? It’s like a soap opera, but with more spreadsheets! 📈

Fast forward to August 2023, and they finally reach a deal to recover some funds. But let’s be real, the damage was done. Last year, Genesis had to cough up $21 million for their little “oopsie” with the unregistered securities. Who knew crypto could be so… legal? 🤷‍♂️

Gary Gensler, the SEC head honcho, said it best: “It’s not optional. It’s the law.” Well, thanks for the reminder, Gary! 🙄

Now, we’ve got Mark T. Uyeda as the new acting chairman of the SEC. He’s like the new kid in school, and everyone’s waiting to see if he’s going to be cool or just another stick in the mud. And let’s not forget Paul Atkins, the Trump nominee, who’s apparently pro-crypto. It’s like a crypto party, and everyone’s invited! 🎉

Bitcoin strength matches 2022 bear market

Meanwhile, Bitcoin is doing its own thing, dropping below $85,000. Rekt Capital, the technical analyst, is like, “Hey, look at this RSI!” It’s at 23.93, matching the 2022 bear market. So, it’s like déjà vu, but with more panic! 😱

But hey, every time Bitcoin dips, it’s like a rubber band. It’s going to bounce back, right? At last check, Bitcoin is trading at $83,550. So, hold onto your hats, folks! 🎩

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2025-03-09 18:08