Gemini Space Station, Inc.

well interesting satoshi thank you so much for that now let's do one thing satoshi let's go and pivot to some news all the way from x and next guys they have launched us cash stack partner program thereby allowing users to trade asset directly to partner brokerage and here are some important things to remember guys tapping a ticker symbol on your timeline displays real-time price charts and related financial post and users can also select the new trade option to seamlessly transition to a platform like coinbase interactor brokers or even gemini and once redirected to partner brokerage you can instantly log in or sign up to complete your transaction this according to me satoshi is definitely a genius move and elon musk he does wants to go ahead and make x and everything appisonate

That integration is brilliant, George.

By displaying real-time prices right on the timeline and providing that seamless transition to brokerages like Coinbase, Interactive Brokers, and Gemini, they create frictionless in-feed action.

Users don't have to break their discussion flow.

They can monitor, analyze, and execute trades instantly.

As you mentioned yesterday, that news that we got out of the fact that the US Senate blocked a landmark crypto bill in a procedural vote, this really being a major setback for the industry as a whole and a lot of folks that have really been pushing for Congress to essentially lay out what the rules are for the broader crypto space.

So you're seeing names like Coinbase, Circle, Gemini, Space Station all pointing lower this afternoon as investors really grapple with what this could mean for the broader industry and whether or not there's gonna continue to be hurdles.

Indeed, and, uh, we're watching Bitcoin today, uh, down by roughly, uh, seven-tenths of 1%, uh, trading just above $75,000.

Also keeping an eye on SpaceX.

But regulations were previously, if belatedly, being enforced in the crypto sector by the SEC, which applied laws that cover a broad range of financial assets that fit the definition of an investment contract.

Courts repeatedly upheld this application to the crypto sector, much to the chagrin of deep-pocketed crypto firms like Coinbase, Ripple, and Gemini, who responded with hundreds of millions in lobbying and saw their cases dropped under Trump.

Facing what they viewed as an existential threat from an SEC demanding they play by the same rules as other industries, the crypto sector spent hundreds of millions of dollars lobbying for the Clarity Act and electing lawmakers who would let them write their own rules.

The result is not clear rules of the road.

Selling stock to pay interest on old loans is considerably less fun.

Then we have Gemini Space Station Inc, the exchange founded by the Winklevoss twins, most famous for their band Mars Junction.

In this photo, you can see that one of them has one of those wallet chains, which I've pointed out before makes no sense for a crypto bro.

You're supposed to etch your crypto seed phrase on a stainless steel plate and bury it in your backyard, not chain it to your belt.

I don't get the impression that he's the smart one.

Gemini went public last September with its shares briefly spiking to around $46 a share.

Since then, the stock has cratered by over 80%, recently hitting record lows near $6.

It hasn't been a great six months.

I do agree that last summer was a little, I'd say, I wouldn't say euphoric, but a little too bullish.

Obviously, we had, I believe, BitGo, Gemini, a few others.

But obviously, if you just went off their performance post IPO, they weren't.

they weren't kind of like the breakout IPOs that everyone would have wanted to see to get another wave of kind of crypto IPOs coming behind them, which I think that was part of the reason, right? Like we had October 10th, I'm sure that round that Kraken raised in November actually came together many months or over the course of many months before it.

And in a bear market, it doesn't matter how great the business is.

You can see all of these public equities.

Look at BitGo, Circle, Gemini stock, even Coinbase.

You know, in a bear market, it's almost universally hated, no matter how good, even if you're the worst, even if you're the best of the worst, it doesn't really matter much.