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Gemini Dollar(GUSD)

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$1.0018
(0.19%)
0.00001615 BTC
Market Cap (Rank#334)
$146,939,348
2,369 BTC
Vol 24h
$1,564,782
25.2297 BTC
Circulating Supply
146,673,378.63
Max Supply
148,251,945.87
239 days agocryptodaily
Gemini Dollar Vs Tether (USDT): Tradecurve Receives Bullish Rating, Is A 40% Price Rise On The Cards?
Gemini Dollar and Tether are two of the world's most popular stablecoins. Both have gained traction during the recent banking crisis, in which several high-profile banks collapsed. However, their reliance on the U.S. dollar could potentially cause issues in the future. If inflation continues to rise throughout financial markets, both Gemini Dollar and Tether could struggle in the DeFi space. At the same time, new projects like Tradecurve are making waves in the DeFi space. Tradecurve has raised $3 million during its presale, and following an 80% surge in value, analysts now believe that an additional 40% price rise could be on the table. Tether Makes A Huge Investment In Bitcoin Mining As the world's number one most traded cryptocurrency, Tether is considered an extremely safe crypto investment. The project recently invested $1 billion into a new Bitcoin mining farm in El Salvador. This investment is designed to help create an eco-friendly mining solution, with Tether offering expertise in green energy alternatives. This particular farm will utilize Volcano energy to produce 241 MW of power and will also install photovoltaic cells to produce solar energy. This investment is a huge development in the Tether ecosystem, and has helped to solidify the project's reputation. As Tether continues to invest in DeFi, its popularity is only going to grow, which has made Tether the number one option for investors looking to buy stablecoins, Gemini Dollar Trading Volume Surges Gemini Dollar is an alternative to Tether with a number of benefits. It’s been approved by the New York Department of Financial Services, which makes it a safe investment despite the recent SEC lawsuits. Furthermore, Gemini Dollar has been audited by Trail of Bits Inc. Gemini Dollar is also a stable investment due to being pegged to the U.S. Dollar. As of July 2023, Gemini Dollar has a daily trading volume of $1.8 million, a significant increase from June. This increase suggests that more investors are looking for stable investments, with Gemini Dollar becoming a top option in the process. Tradecurve Attracts Thousands Of New Investors Although Tradecurve may not be as stable as Gemini Dollar or Tether, the project offers significantly higher returns. Since its presale started, Tradecurve has raised over $3 million and offered investors returns of 80%. This ROI is expected to increase again soon, with stage four of the Tradecurve (TCRV) presale already 60% sold out. Tradecurve offers an exciting new alternative to traditional investing. Its hybrid exchange lets investors buy the widest range of assets of any platform, including traditional and DeFi options. Assets such as commodities, forex, and CFDs can be traded by investors who can use cryptocurrency as collateral. Furthermore, as a decentralized platform, all of these assets can be traded anonymously. Tradecurve lets investors trade assets without needing to pass KYC or intrusive background checks. This is expected to be a big selling point for the project, as thousands of investors left centralized platforms following lawsuits from the SEC in June. Tradecurve Is Predicted To 100x Post Presale Tradecurve is now ranked among the fastest-growing cryptocurrencies in the DeFi market. Its value has continuously increased in June, and now experts believe its value could 50x before its presale ends. Post presale, price predictions are going as high as 100x once TCRV tokens are listed on major exchanges. With such high price predictions, Tradecurve’s current price of $0.018 is believed to be a huge bargain, though, with hundreds of investors buying tokens daily, TCRV is expected to increase in value again before mid-July. To find more information about Tradecurve and the TCRV token, visit the links below: Website: https://tradecurve.io/ Buy presale: https://app.tradecurve.io/sign-up Twitter: https://twitter.com/Tradecurveapp Telegram: https://t.me/tradecurve_official Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
260 days agocoindesk
MakerDAO Hikes DAI Savings Rate, Ousts Paxos Dollar, Curbs Gemini Dollar in Reserve
The move could redefine baseline interest rates in the DeFi space, spurring higher stablecoin lending rates and making leverage more expensive, one analyst noted.
261 day agocoindesk
MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve
The result could have a significant impact on Gemini and its stablecoin as MakerDAO’s reserve holds roughly 88% of total GUSD supply.
280 days agocryptodaily
Gemini To Establish European Headquarters in Ireland
The Winklevoss-owned crypto exchange Gemini Trust Co. will establish its European headquarters in Dublin, Ireland. US-based Gemini announced it will run its European operations out of Dublin, Ireland. Cameron Winklevoss shared the news via his Twitter feed on Thursday as American crypto exchanges scramble to widen operations amid the intensifying regulatory crackdown in the US. Awesome meeting this morning with @LeoVaradkar, the Prime Minister of Ireland. We talked about the profound promise of crypto and the importance of common sense regulation to realize that promise. We believe MiCA is that common sense regulation. We also announced that @Gemini has… pic.twitter.com/Iv3NmPTmju — Cameron Winklevoss (@cameron) May 25, 2023 Bloomberg reports Gemini cited Dublin’s thriving start-up culture as a pull factor for the exchange to set up its European operations there. After the European Union’s Markets in Crypto Assets (MiCA) regulation was approved last week, several crypto firms are considering a shift away from the US. Gemini Is the First Crypto Exchange to Register as a VASP in Ireland Leo Varadkar, Prime Minister of Ireland, congratulated Gemini on Twitter. Congratulations @Gemini -the first firm registered by the Central Bank of Ireland as a Virtual Asset Service Provider. This is significant for Ireland as the Government focuses on innovation as a driver of growth. I wish Gemini every success as they build their team in Ireland. pic.twitter.com/Y3WULIqwNc — Leo Varadkar (@LeoVaradkar) May 25, 2023 The PM further said Gemini’s decision to establish its headquarters in Ireland points towards the Irish government’s dedication to innovation. Varadkar said: Gemini’s decision to locate in Ireland highlights our competitive offering for the international financial services sector. I wish Gemini every success as they build their team in Ireland. In July 2022, Gemini became the first cryptocurrency exchange to register as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. The exchange also secured the Bank’s Electronic Money Institution (EMI) license in February 2022. Gemini Launches Offshore Crypto Derivatives Exchange Less than a month ago, Gemini launched Gemini Foundation, an offshore cryptocurrency derivative platform. The new exchange launched in 30 countries but is not available to US, UK, or EU users. Gemini said the platform would allow users to begin trading with Bitcoin perpetual contracts, denominated in Gemini Dollar (GUSD) and offers 100x leverage. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
304 days agocryptodaily
Gemini Announces Launch Of Offshore Crypto Derivatives Exchange
Gemini has officially announced the launch of the Gemini Foundation, the highly anticipated offshore crypto derivatives platform. The new exchange has been launched in 30 countries. However, it is not available to users in the United States of America, the United Kingdom, and the European Union. Highly Anticipated Offshore Derivatives Platform Goes Live The launch of the offshore crypto derivatives trading platform comes just weeks after it was first announced in April. According to Gemini, the offshore derivatives platform Gemini Foundation will allow users to begin trading with Bitcoin (BTC) perpetual contracts. These will be denominated in Gemini Dollars (GUSD) and will offer users 100x leverage. Gemini stated in its blog post, “Gemini Foundation — a non-US derivatives platform — is now live and open for trading to customers in all available jurisdictions. Start trading the BTC perpetual contract denominated in Gemini dollars (GUSD) with up to 100x leverage today.” The exchange also stressed that Gemini Foundation would not be available to users based in the United States of America, the United Kingdom, and the European Union. However, the crypto derivatives platform is available in several other jurisdictions, 30 to be exact. These include Hong Kong, Singapore, Argentina, Bahamas, Bermuda, India, Bhutan, British Virgin Islands (BVI), Cayman Islands, Chile, Brazil, El Salvador, Guernsey, Egypt, Jersey, Israel, Nigeria, New Zealand, Peru, Panama, Philippines, Saint Vincent & Grenadine, Saint Lucia, South Africa, Switzerland, Turkey, Thailand, Uruguay, and Vietnam. Gemini has also stated there are plans to launch an ETH/GUSD perpetual contract in the next few weeks. “Gemini Foundation offers customers a capital-efficient, highly available, and trusted venue to trade derivatives. Purpose-built for both individuals and institutions, Gemini Foundation, combines powerful trading tools with an elegant user experience. In the coming months, we will be expanding our derivatives offering with additional perpetual contracts, dated futures, and options trading.” New Platform Based In Singapore According to one report, the new Gemini’s offshore derivative platform is based in Singapore and there are plans to introduce spot products as well. To fund their trading accounts on the platform customers will be required to convert their USD into GUSD and USD Coin in a 1:1 basis. However, perpetual funding payments will have to be made exclusively in GUSD. The news of the platform’s launch comes on the same day Coinbase announced the launch of its own crypto derivatives exchange, the Coinbase International Exchange, based out of Bermuda. Regulatory Issues Driving Exchanges Out Cryptocurrency exchanges based in the United States of America have increasingly started moving abroad thanks to growing regulatory uncertainty and an increasingly hostile attitude from the United States Securities and Exchange Commission (SEC). The SEC has ramped up its scrutiny of the crypto space and recently filed regulatory actions on Beaxy and Bittrex. The SEC also brought charges against Gemini for its now-defunct Earn program. An Update On Earn Gemini provided users with an update on the status of its Earn program, stating that it had agreed to a 30-day mediation process to iron out a final resolution with Genesis, the Digital Currency Group (DCG), the Creditor Committee, and the Unsecured Creditors Committee (UCC). Gemini added that it was supportive of mediation between all parties and would work with everyone involved to bring the matter to an acceptable resolution. However, there have been times when Gemini has expressed its frustrations with the slow pace of progress. Gemini stated on its Twitter account, “Earn update: This past week, Genesis, Digital Currency Group (DCG), the Unsecured Creditors Committee (UCC), the Creditor Committee, and Gemini agreed to start a 30-day mediation process to drive to a final resolution as soon as possible. Gemini is supportive of mediation and working with the parties to bring this to a conclusion.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
314 days agocointelegraph
Gemini to launch derivatives platform outside the United States
The platform's first derivatives contract will be a BTC perpetual contract denominated in Gemini dollars (GUSD), followed by an ETH/GUSD perpetual contract.
314 days agocryptodaily
Gemini Set To Launch Crypto Derivatives Platform Outside The US
US-based cryptocurrency exchange Gemini has revealed that it is planning to open an offshore derivatives platform. The decision was announced as regulatory pressures in the United States continue to grow, with a mass withdrawal of crypto organizations currently taking place. A New Crypto Derivatives Platform The move comes shortly after Gemini announced that it would be relocating its engineering hub and developers to India. Gemini revealed its plans to launch an offshore derivatives platform under a new division called the Gemini Foundation. According to Gemini, the new platform would allow users based outside the US to trade in the spot and derivatives markets. According to the official announcement, the platform’s first product would be a BTC perpetual contract denominated in GUSD, which is Gemini’s stablecoin with its value pegged to the United States dollar. Following this, an Ethereum perpetual contract (ETH/GUSD) is also expected to launch. According to the statement, “Gemini Foundation will allow eligible customers to leverage their crypto assets to achieve long or short crypto exposure in order to manage risk, generate returns, and gain directional exposure. Eligible customers will be able to trade both spot and derivatives products and execute all of their trading strategies within a secure and trusted platform.” Available In A Host Of Jurisdictions According to Gemini, the Gemini Foundation will allow eligible users to leverage their crypto assets and gain exposure to the underlying asset’s value without actually owning the asset. The derivatives trading platform will be available to users in a number of countries such as Hong Kong, India, Israel, Singapore, Thailand, Bermuda, Bahamas, British Virgin Islands, Brazil, Bhutan, Cayman Islands, Egypt, Chile, Guernsey, El Salvador, Jersey, Nigeria, New Zealand, Panama, Nigeria, Peru, Philippines, Saint Vincent & Grenadine, Saint Lucia, South Korea, South Africa, Switzerland, Turkey, Thailand, Uruguay, and Vietnam. There has yet to be any clarity on an exact launch date. However, the announcement did feature a link for interested users to sign up and gain priority access. Users that sign up will be notified once the platform is ready. Search For A Favorable Regulatory Environment Continues Gemini’s decision comes as regulatory scrutiny against crypto firms in the United States continues to get more intense. Since the beginning of the year, the United States Securities and Exchange Commission (SEC) has hit several crypto firms operating in the US with a host of charges. Many view these actions as necessary following the catastrophic collapse of FTX and the implosion of TerraUSD. As a result, the first few months of 2023 have been incredibly difficult for the crypto space and crypto entities operating in the United States. Gemini has already announced that it is relocating its engineering hub and all of its developers to India. However, the country is yet to fully embrace the idea of cryptocurrencies, although there is an easing of its position when it comes to digital assets. This could be a result of the evolving crypto environment in South Asia. The country’s finance minister, Nirmala Sitharaman, has proposed that G20 nations create a standard framework for crypto and digital assets. However, despite being located outside the United States, the Gemini Foundation could still be in the crosshairs of regulatory authorities based in the United States. Binance is not based in the United States, yet it was sued by the Commodity Futures Trading Commission (CFTC) for several alleged violations. FTX also was based in the Bahamas, but that did not prevent CEO Sam Bankman-Fried from facing criminal charges in the United States. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Gemini Dollar?

The live price of Gemini Dollar (GUSD) today is 1.0018 USD, and with the current circulating supply of Gemini Dollar at 146,673,378.63 GUSD, its market capitalization stands at 146,939,348 USD. In the last 24 hours GUSD price has moved ? USD or 0.00% while ? USD worth of GUSD has been traded on various exchanges. The current valuation of GUSD puts it at #334 in cryptocurrency rankings based on market capitalization.

Learn more about the Gemini Dollar blockchain network and how it works or follow the price of its native cryptocurrency GUSD and the broader market with our unique COIN360 cryptocurrency heatmap.

Introduction

The Gemini Dollar (GUSD) is a stablecoin cryptocurrency developed by the Gemini Trust Company, a New York-based digital currency exchange owned by the Winklevoss twins. GUSD is a token that is issued on the Ethereum blockchain and is pegged 1:1 with the US dollar. This means that for every Gemini Dollar in circulation, there is an equivalent amount of US dollars held in reserve by the Gemini Trust Company.

Technology & Mechanism

Consensus Mechanism

As an ERC-20 token, Gemini Dollar operates on the Ethereum blockchain, which uses a Proof-of-Stake (PoS) consensus mechanism. This mechanism allows for faster transaction times and lower fees compared to Proof-of-Work blockchains.

Blockchain Technology

Gemini Dollar operates on the Ethereum blockchain, which is renowned for its smart contract functionality. This allows for the creation of decentralized applications and also enables the issuance of tokens like GUSD.

Key Features

Scalability

As an ERC-20 token, GUSD benefits from the scalability of the Ethereum network, which can handle a large number of transactions per second.

Security

GUSD is backed by the US dollar and held at State Street Bank and Trust Company. The US dollar deposit balance is examined monthly by BPM, LLP, a registered public accounting firm, to ensure transparency and security.

Privacy

While transactions on the Ethereum blockchain are transparent, the identity of GUSD holders remains private unless they choose to disclose it.

Decentralization

Despite being issued by a centralized entity, GUSD operates on a decentralized network (Ethereum), which ensures its immutability and censorship resistance.

Development Team & Governance

The Gemini Trust Company, led by Cameron and Tyler Winklevoss, is responsible for the issuance and governance of GUSD. The company is regulated by the New York State Department of Financial Services.

Use Cases & Potential Impact

GUSD can be used for a variety of purposes, including money transfers, payments, and as a stable store of value in the volatile crypto market. Its potential impact is vast, as it can provide a stable digital asset in countries with unstable currencies.

Purchase & Storage

How to Buy

GUSD can be purchased on the Gemini exchange and other platforms that support ERC-20 tokens. It can be bought using US dollars or traded for other cryptocurrencies.

Wallets & Storage

Being an ERC-20 token, GUSD can be stored in any wallet that supports Ethereum, such as MetaMask, MyEtherWallet, and hardware wallets like Ledger and Trezor.

Partnerships & Collaborations

Gemini has partnered with various entities in the crypto space to increase the adoption of GUSD. These include exchanges, wallet providers, and payment processors.

Roadmap

While Gemini has not released a specific roadmap for GUSD, the company continues to work on increasing its adoption and maintaining its regulatory compliance.

Risks & Challenges

As with any cryptocurrency, GUSD faces potential risks and challenges. These include regulatory changes, competition from other stablecoins, and the reliance on the Ethereum network's stability.

Community & Regulatory Compliance

Community

GUSD has a growing community of users, developers, and supporters, many of whom are attracted by its stability and regulatory compliance.

Regulatory Compliance

GUSD is one of the few cryptocurrencies that is fully regulated. It is issued by the Gemini Trust Company, which is licensed by the New York State Department of Financial Services.

In conclusion, the Gemini Dollar is a unique stablecoin that combines the stability of the US dollar with the benefits of blockchain technology. Its regulatory compliance, transparency, and security make it a promising digital asset for a wide range of uses.

Gemini Dollar Price1.0018 USD
Market Rank#334
Market Cap146,939,348 USD
24h Volume1,564,782 USD
Circulating Supply146,673,378.63 GUSD
Max Supply148,251,945.87 GUSD
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