{"id":77938,"date":"2023-04-27T12:53:37","date_gmt":"2023-04-27T09:53:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77938"},"modified":"2025-09-11T02:08:02","modified_gmt":"2025-09-10T23:08:02","slug":"gemini-chief-criticises-us-authorities-for-double-standards","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gemini-chief-criticises-us-authorities-for-double-standards\/","title":{"rendered":"Gemini chief criticises US authorities for double standards"},"content":{"rendered":"<p>Gemini co-founder and chief executive Cameron Winklevoss accused US regulators of hypocrisy during the First Republic Bank crisis.  <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">First Republic Bank is down another 35% and falling fast. If this was a &#8220;crypto&#8221; bank it would have been assassinated weeks ago. The fact that is hasn&#8217;t been taken into receivership shows just how blatant the double standard is.<\/p>\n<p>\u2014 Cameron Winklevoss (@cameron) <a href=\"https:\/\/twitter.com\/cameron\/status\/1651233871537623041?ref_src=twsrc%5Etfw\">April 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Shares of First Republic Bank fell by 35% and are still sliding. If it were a crypto bank, it would have been killed several weeks ago. The fact that it has not been taken into receivership shows how blatant the double standards are,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>The bank began to experience &#8220;structural problems&#8221; after authorities closed <a href=\"https:\/\/u1f987.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\">SIlicon Valley Bank (SVB) and Silvergate Bank<\/a>.<\/p>\n<p>First Republic consultants said that addressing the firm&#8221;s liquidity problems on the private market would allow the company to continue operating.<\/p>\n<p>Fox News correspondent Charles Gasparino wrote on Twitter that the &#8220;private bailout&#8221; is being advanced by US Treasury Secretary Janet Yellen and her department&#8217;s team. However, in his view, authorities do not intend to rescue all depositors as they did with SVB and Signature.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Scoop: Execs at banks involved in the <a href=\"https:\/\/twitter.com\/firstrepublic?ref_src=twsrc%5Etfw\">@firstrepublic<\/a> imbroglio say latest private sector bailout is actually being pushed by <a href=\"https:\/\/twitter.com\/SecYellen?ref_src=twsrc%5Etfw\">@SecYellen<\/a> &#038; 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<\/p>\n<p>\u2014 Charles Gasparino (@CGasparino) <a href=\"https:\/\/twitter.com\/CGasparino\/status\/1651222949456756737?ref_src=twsrc%5Etfw\">April 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On April 24, the bank&#8217;s shares fell after the publication of its first-quarter report, which showed a $100 billion outflow of deposits. At the time of writing, the stock traded at $5.69, down 29.75% for the day.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"202\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21-1024x202.png\" alt=\"FRC_2023-04-27_12-50-21\" class=\"wp-image-205576\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21-1024w.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21-300x59.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21-768x152.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21-1536x303.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/FRC_2023-04-27_12-50-21.png 1934w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>15-minute FRC\/USD chart on the NYSE. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/NYSE-FRC\/\">TradingView<\/a>.<br \/><\/figcaption><\/figure>\n<p>Earlier this month, a representative of the New York state banking regulator <a href=\"https:\/\/u1f987.com\/en\/news\/regulator-signature-bank-collapse-not-linked-to-cryptocurrencies\">\u0437\u0430\u044f\u0432\u0438\u043b\u0430<\/a> that the collapse of Signature Bank was not linked to the digital-asset industry. According to her, the bank&#8217;s collapse was the result of panic among clients sparked by SVB&#8217;s fall.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cameron Winklevoss, co-founder and chief executive of the Gemini cryptocurrency exchange, accused US regulators of hypocrisy during the First Republic Bank crisis.<\/p>\n","protected":false},"author":1,"featured_media":77939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,719],"class_list":["post-77938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-gemini"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77938"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77938\/revisions"}],"predecessor-version":[{"id":77940,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77938\/revisions\/77940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77939"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}