Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back in kind, including any appreciation. The valuation is based on digital asset prices as of May 28. Gemini also contributed $50 million to the recovery effort. The company emphasized that the Genesis bankruptcy resulted from financial fraud and regulatory ambiguity, not crypto issues. Gemini is committed to advocating for clear regulations to support innovation and consumer protection.
$2.18 Billion Digital Assets in Kind Returned to Earn Users, Gemini Says
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
