Get the "Ultimate Guide to Bitcoin" course:
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In this video, I discuss whether Gemini Earn is in trouble, since their main borrower is Genesis Global Capital LLC, which has recently run into huge losses from the blow-up of the crypto hedge fund Three Arrows Capital.
According to the Gemini Earn Program Terms, there is very little recourse for Gemini Earn participants if a borrower like Genesis defaults.
For Bitcoin holders, Bitcoin self-custody remains the best option. Chasing yield at lending companies like Gemini could lead to total loss of principal. It is a highly risky lending scheme, and bears little resemblance to the yield that you get at a traditional bank.
"Not your keys, not your Bitcoin." Learn how to hold your Bitcoin yourself, before it is too late.
Not investment advice! Consult a financial advisor.
The Best Ways To Store Small and Medium Amounts of Bitcoin:
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Best Way To Store Large Amounts of Bitcoin (Multi-Sig):
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Gemini Earn program:
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Are BlockFi, Celsius, or Gemini Earn Safe?
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Is Celsius About To Implode?
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Is BlockFi About To Implode?
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FTX Close to Buying BlockFi for Just $25M:
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Winklevoss Bitcoiners:
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Winklevii love pushing alts:
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Gemini Earn Program Terms and Authorization Agreement:
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Genesis:
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Genesis Faces ‘Hundreds of Millions’ in Losses:
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Check out my online trading courses:
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Use this secret coupon code to get a discount: YT99
Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
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Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
