Is the Gemini exchange in trouble?

[khaled0111]

 ^^
I totally agree with what the above member has said. Withdraw all your coins to your own wallet. Thus way your coins will be under your custody and you can, later, transfer them to any exchange you want. My advice is to always use reputable exchanges even they charge higher fees.
When sending your coins to an exchange to trade/exchange them, don't send the whole amount, just send the amount you want to trade/exchange.

[DaveF]

Gemini seems to have a lawsuit against them as you have mentioned, you don't want to wait and see what the outcome of that would be. Withdraw your funds and use another platform. If you're from the U.S as I think you are, try Coinbase.

But Gemini was already in turmoil before that, when it's Gemini Earn program collapsed (because of Genesis et al, we all know the story by this point), their customers were burned, and nobody knows if the Winklevoss twins are pumping money inside the exchange to save it.

Also, to those of you suggesting Binance.US as an alternative - it's not much better from a legal point of view. 

Actually with a little digging you can probably find out who, if anyone is putting money in. They are regulated by the NYSDFS and have to obey their capital reserve requirements. And since they are in NY and not some 3rd world country where you can just pay someone to say that funds are there it's probably buried in some document someplace when discussing their capital reserves and where the money came from.

I have said it before and I'll say it again, NY is an overly regulated state. But, with a lot of the finance things it really does help since they have proven time and time again they will kick out banks / financial institutions / etc. who don't play by their rules.

-Dave

[bkelly13]

Good, if i may ask, what is your cold storage device, a hardware wallet, an airgapped set up or what? And what difficulties were you having that made you uncomfortable with it. Just asking to be sure you are doing everything right so you don't make any big mistake.

I did have some questions on the topic of what the SEC, and maybe other agencies, use to declare that something is an investment and therefore should be regulated.

I have a Trezor.  I had the safe words and password in my safe, but had to move four times in the last year, and one more coming up soon, gave the safe to my daughter rather than cart it across the U.S., and now have misplaced all that data.  If it cannot be found I may need to purchase a new device.