{"id":511013,"date":"2022-11-17T00:45:00","date_gmt":"2022-11-16T21:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/tether-says-it-has-no-exposure-to-genesis-global-or-gemini-earn\/"},"modified":"2022-11-17T00:45:00","modified_gmt":"2022-11-16T21:45:00","slug":"tether-says-it-has-no-exposure-to-genesis-global-or-gemini-earn","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/tether-says-it-has-no-exposure-to-genesis-global-or-gemini-earn\/","title":{"rendered":"# Tether says it has no exposure to Genesis Global or Gemini Earn"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bef0f59a3f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bef0f59a3f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/tether-says-it-has-no-exposure-to-genesis-global-or-gemini-earn\/#%E2%80%9D_Tether_says_it_has_no_exposure_to_Genesis_Global_or_Gemini_Earn_%E2%80%9C\" >&#8221; Tether says it has no exposure to Genesis Global or Gemini Earn &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Tether_says_it_has_no_exposure_to_Genesis_Global_or_Gemini_Earn_%E2%80%9C\"><\/span>&#8221; Tether says it has no exposure to Genesis Global or Gemini Earn &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYjU1OWUwMmQtZTVhMC00YzI1LWE3MTUtMDQzYTMyZDU3MWQ3LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-887bb764>Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is the lending partner for interest-bearing Gemini Earn.\u00a0<\/p>\n<p>Eager to differentiate itself from contagion-stricken crypto organizations, Tether <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tether.to\/en\/tether-confirms-zero-exposure-to-genesis\/\">said<\/a>:<\/p>\n<blockquote><p>\u201cIt is important at a time like this to highlight that these [Tether\u2019s] reserves have proved tried and true demonstrating consistent resilience during the black swan events that have characterized the market this past year.\u201d<\/p><\/blockquote>\n<p>Tether, the operator of USDT (USDT) \u2014 the largest stablecoin and the third-largest digital currency by market capitalization \u2014\u00a0lost its dollar peg for a short while on May 12, at the beginning of the crypto market meltdown. <\/p>\n<p>Tether said that the Nov. 16 announcement was \u201cpart of Tether\u2019s ongoing efforts to increase transparency.\u201d Tether has resisted efforts to make it prove the backing of its stablecoin, losing in February a case brought by the Office of the New York Attorney <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a> in 2019 to expose that information. In July, Tether hired BDO Italia to conduct monthly reviews and attestations of its reserves for public release as part of the settlement of that case.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tether Confirms Zero Exposure To Genesis<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/KHEx2HWoJ1\">https:\/\/t.co\/KHEx2HWoJ1<\/a><\/p>\n<p>\u2014 Tether (@Tether_to) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tether_to\/status\/1592904537081319424?ref_src=twsrc%5Etfw\">November 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The stablecoin has made its reduction in commercial paper in its reserves to zero quite public throughout the year.<\/p>\n<p><strong><em>Related: Tether chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer confirms no plans to rescue FTX<\/em><\/strong><\/p>\n<p>Genesis Global announced via a tweet on Nov. 16 that it was temporarily suspending redemptions and new loans due to the \u201cmarket turmoil\u201d arising from the collapse of FTX. After Genesis Global\u2019s announcement, Gemini said it would be unable to meet customer redemptions for five days.<\/p>\n<p>The collapse of the FTX exchange has sent new waves of distress through crypto markets that may continue to be felt for months to come. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/tether-says-it-has-no-exposure-to-genesis-global-or-gemini-earn\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Tether says it has no exposure to Genesis Global or Gemini Earn &#8220; Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYjU1OWUwMmQtZTVhMC00YzI1LWE3MTUtMDQzYTMyZDU3MWQ3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75493,117],"class_list":["post-511013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-stablecoin","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=511013"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511014"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}