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- 🔥 Poll: Can BTC Break Its ATH This Week?
ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
🗳️ Share your take—let’s see where the market goes! - 🔵 #GENIUS Stablecoin Bill#
On May 20, Eleanor Terrett reported that the GENIUS Stablecoin Bill passed a procedural vote (66-32), officially entering the review phase, though it hasn't yet become law. This marks significant progress toward the first U.S. federal stablecoin regulation framework. Is this a positive compliance step or a sign of increasing regulatory pressure? Share your thoughts!
🔵 #SOL Breaks $170#
SOL has passed the $170 mark, currently trading at $170.01, up 0.9% in the past 24 hours. However, according to regulatory filings submitted Monday, the SEC has extended the review d - 🔥 Gate Post Ambassador Exclusive Posting Reward Task Is On!
👉 Post daily from May 19 to May 25 and share a $300 prize pool based on your post quality!
Join now: https://www.gate.io/questionnaire/6679
Registration deadline: May 20 10:00 UTC
🎁 Reward Details:
S-Level Weekly Ranking Reward
Post every day for 7 days with an overall quality score above 90 to qualify for S-Level.
2 outstanding ambassadors will each receive a $50 trading fee rebate voucher.
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- Gate Brand Strategy Major Upgrade
Launching our global domain Gate.com, alongside a brand-new logo!
With a cleaner, more distinctive, universally recognized visual identity, we're moving from industry leader to true pace-setter.
✨ Three Pillars of Our Strategic Upgrade
1. User First: Serving 23 million users worldwide, with a reserve ratio of 128.57%, solidly among the top in the industry.
2. Tech Innovation: Pioneering the use of zero-knowledge proofs to verify reserve security.
3. Global Compliance: One of the few crypto platforms legally operating across multiple regions.
Just as we declare
- 🍕 Bitcoin Pizza Day is Almost Here!
Join the celebration on Gate Post with the hashtag #Bitcoin Pizza Day# to share a $500 prize pool and win exclusive merch!
📅 Event Duration:
May 16, 2025, 8:00 AM – May 23, 2025, 06:00 PM UTC
🎯 How to Participate:
Post on Gate Post with the hashtag #Bitcoin Pizza Day# during the event. Your content can be anything BTC-related — here are some ideas:
🔹 Commemorative:
Look back on the iconic “10,000 BTC for two pizzas” story or share your own memories with BTC.
🔹 Trading Insights:
Discuss BTC trading experiences, market views, or show off your contract gai
Genesis Takes Legal Action to Recover Billions From Digital Currency Group - Crypto Economy
TL;DR
Genesis Global has launched new lawsuits against its parent company, Digital Currency Group (DCG), and chief executive Barry Silbert. The lawsuits allege that reckless management, rampant misrepresentation, and self-serving practices siphoned billions of dollars from the beleaguered crypto lender, a move insiders claim directly contributed to Genesis’s financial collapse and subsequent bankruptcy.
Double-Pronged Legal Attack
Genesis’s legal team has taken an uncompromising stand by filing two lawsuits in separate jurisdictions. One lawsuit, brought before the Delaware Court of Chancery, accuses DCG and Silbert of orchestrating a series of fraudulent transactions and self-dealing maneuvers.
The claim alleges that high-level executives exploited the crypto lender like a corporate ATM, channeling digital assets and fiat funds away from the company even as it teetered on insolvency. In this filing, Genesis seeks to reclaim billions in crypto assets that were allegedly diverted to enrich insiders at the expense of its more than 100,000 creditors.
Ripple Effects Across the Crypto Sector
The second lawsuit, filed in the Bankruptcy Court for the Southern District of New York, targets a broader array of illicit transfers. It argues that during a period of acute financial distress, insiders funneled over a billion dollars in dubious transactions between affiliated entities to mask the true financial instability of Genesis.
With the company’s restructuring efforts having already begun, the new legal challenges are seen as a pivotal move to secure much-needed funds for its creditors. If successful, the recovery of these assets could not only stabilize Genesis but also set a stern precedent for governance and risk management practices across the digital asset industry.
By aggressively pursuing legal redress, Genesis is sending a clear message that it will fight to restore value for its creditors and hold accountable those allegedly responsible for its downfall.
As the legal battle unfolds, industry observers anticipate a ripple effect that could compel tighter oversight and more transparent financial practices among high-profile crypto firms. The unfolding drama is expected to be a watershed moment in the ongoing evolution of accountability in the fast-paced world of digital finance.