Canadian Union of Postal Workers issues 72-hour strike notice to Canada Post
The Canadian Union of Postal Workers has given a 72-hour strike notice to Canada Post.
Gemini Trust, a cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will return at least US$1.1 billion to customers of its now shuttered lending program, following a settlement with a New York regulator.
Gemini will also pay a US$37 million fine to the regulator 鈥渇or significant failures that threatened the safety and soundness of the company,鈥 the New York Department of Financial Services (NYDFS) said in Wednesday.
NYDFS has the right to 鈥渂ring further action against Gemini if the company does not fulfill its obligation,鈥 it said in the statement.
Gemini is run by the Winklevoss twins, who are best known for spending years in litigation accusing Meta鈥檚 (META) Mark Zuckerberg of stealing their idea for Facebook and eventually received a US$65 million settlement.
In a Wednesday , the crypto exchange said that due to the settlement, customers of its lending program, Gemini Earn, would receive 100 per cent of their digital assets back in kind plus any appreciation in value.
Gemini Earn marketed itself as a low-risk investment in which customers could lend crypto assets to another firm, Genesis Global Capital (GGC), while earning interest payments as high as 8 per cent.
鈥淲e will be returning over US$1.8 billion in value (at today鈥檚 prices),鈥 according to the Gemini blog, which it said was US$700 million more than when GGC halted withdrawals in November 2022.
That was when the trillion-dollar crypto market crumbled, due to the collapse of FTX, the once high-flying crypto exchange. Its co-founder, Sam Bankman-Fried, was convicted in November on seven counts of fraud and conspiracy for his role in the demise of the company.
On Tuesday, lawyers for Bankman-Fried filed a memo in a Manhattan federal court recommending a prison sentence between five and six-and-a-half years. Under federal guidelines, he could face a maximum of 110 years. His sentencing is scheduled for March 28.
Wednesday鈥檚 settlement doesn鈥檛 mean Gemini鈥檚 legal problems are over. It faces a separate lawsuit filed in October by New York鈥檚 attorney general accusing three companies 鈥 Gemini, GCC and Digital Currency Group, the parent firm of GCC 鈥 of lying to investors and covering up more than US$1 billion in losses.
The Canadian Union of Postal Workers has given a 72-hour strike notice to Canada Post.
A Brampton woman says she is devastated after she lost more than $200,000 鈥 her life's savings 鈥 to a romance scam.
President-elect Donald Trump has selected South Dakota Gov. Kristi Noem as his next secretary of the Department of Homeland Security, according to two people familiar with the selection.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
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Dozens of people armed with sticks and firecrackers set a tram on fire in Amsterdam on Monday, police said, while the city is facing tensions following violence last week targeting fans of an Israeli soccer club.
A congestion crisis, a traffic nightmare, or unrelenting gridlock -- whatever you call it, most agree that Toronto has a congestion problem. To alleviate some of the gridlock, the Ontario government has announced it plans to remove bike lanes from three major roadways.
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A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.