Charles Hoskinson ironically on the Gemini exchange crash by BeInCrypto

BeInCrypto – ADA founder Charles Hoskinson mocked the case of the Gemini exchange, for its recent breach of data of up to 5.7 million users, which ended up being sold on the dark web. Users remembered when Hoskinson mentioned that it was “not a good idea” to include ADA on Gemini.

Charles Hoskinson responded with a meme mocking Gemini and the response he gave to a user, who reminded him that ADA was never listed on Gemini, which is now bankrupt and has cash problems, and had a data breach on top of that.

https://t.co/ChtYsWHTL5 pic.twitter.com/pKDYBB1b7H

—Charles Hoskinson (@IOHK_Charles) December 30, 2022

The Cardano founder previously explained in Twitter Space (NYSE:) that it took years for ADA to get listed on Coinbase (NASDAQ::), but it doesn’t seem like a good idea to list it on all exchanges, particularly Gemini or FTX, both of which are bankrupt, assuming that they don’t. Cardano listing is synonymous with a company in crisis.

Hoskinson’s prescience seemed to be correct, as the investors sued brothers Tyler and Cameron Winklevoss in the US District Court for the Southern District of New York for account fraud on the Gemini Trust Earn product. He did not register them as securities.

Charles Hoskinson is right in his prediction

In addition to the Gemini data theft, investors sued the founders of Gemini in a class-action lawsuit for violating the exchange law Tuesday night in Manhattan federal court. Gemini Trust Earn products promise returns of up to 8%, thus attracting thousands of people.

In early December, Gemini announced that it was experiencing a “security issue” affecting 5.7 million users, and it later emerged that a hacker group was publishing a database of personal information on exchange users, including phone numbers, passwords, and email addresses.

This is not the first time Hoskinson has commented on the bankruptcy of the crypto industry. In November, the Cardano founder gave his opinion on the crisis FTX is going through, comparing it to the collapse of the LUNA ecosystem.

At the time, Hoskinson revealed that the FTX exchange was more similar to LUNA than people had thought. At this point, it is necessary to remember that last May, the stablecoin TerraUSD (UST) lost parity with the dollar.

The post in which Charles Hoskinson jokes about the collapse of the Gemini exchange was first seen on BeInCrypto.

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