{"id":147,"date":"2024-01-21T13:23:09","date_gmt":"2024-01-21T13:23:09","guid":{"rendered":"https:\/\/posse.keithlewiskeithlewis.com\/?p=147"},"modified":"2024-01-21T13:23:35","modified_gmt":"2024-01-21T13:23:35","slug":"how-the-winkleviis-second-act-went-bad-kevin-t-dugan-intelligencer","status":"publish","type":"post","link":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/2024\/01\/21\/how-the-winkleviis-second-act-went-bad-kevin-t-dugan-intelligencer\/","title":{"rendered":"\u201cHow the Winklevii\u2019s Second Act Went Bad\u201d &#8211; Kevin T. Dugan (Intelligencer)"},"content":{"rendered":"\n<p>\u201cIt was an aggressive move to offer the general public a brand new interest-bearing product without clear regulatory approval \u2014 and this time Gemini didn\u2019t ask the Department of Financial Services for permission ahead of time, according to two people familiar with the approval process. To knowledgeable observers in the crypto world, the logic of the Winklevosses\u2019 strategy shift toward riskier and more aggressive product offerings was obvious enough. \u201cThey were hemorrhaging market share,\u201d said Cory Klippsten, the CEO of Swan Bitcoin, a digital currency financial services company. \u201cIn an effort to stay alive, they basically did exactly what SBF did, which was go after retail deposits.\u201d<\/p>\n\n\n\n<p><a href=\"https:\/\/nymag.com\/intelligencer\/2023\/12\/how-the-winkleviis-second-act-in-bitcoin-went-bad.html\">https:\/\/nymag.com\/intelligencer\/2023\/12\/how-the-winkleviis-second-act-in-bitcoin-went-bad.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cIt was an aggressive move to offer the general public a brand new interest-bearing product without clear regulatory approval \u2014 and this time Gemini didn\u2019t ask the Department of Financial Services for permission ahead of time, according to two people familiar with the approval process. To knowledgeable observers in the crypto world, the logic of&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"webmentions_disabled":false,"footnotes":""},"categories":[15],"tags":[5,3,4],"class_list":["post-147","post","type-post","status-publish","format-standard","hentry","category-links_read","tag-extract","tag-linksread","tag-mastodon"],"_links":{"self":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/comments?post=147"}],"version-history":[{"count":1,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/147\/revisions"}],"predecessor-version":[{"id":148,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/posts\/147\/revisions\/148"}],"wp:attachment":[{"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/media?parent=147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/categories?post=147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/posse.keithlewiskeithlewis.com\/index.php\/wp-json\/wp\/v2\/tags?post=147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}