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Gemini Exchange Fully Back Online After The Server Is Outgate

Gemini experienced a server outage for less than an hour, according to the site.

Customers were informed by the exchange earlier today that Genesis, a lending partner in the Earn program, was halting withdrawals. The timing of Gemini’s subsequent downtime owing to an “Amazon Web Services EBS outage,” which it acknowledged on Twitter barely hours later, appeared puzzling.

Users were informed by the exchnage that their money was secure. Later, it claimed that the service was once again operational.

After Genesis Global Capital disclosed that it stopped accepting withdrawals and new loan originations on Wednesday, the exchange earlier stated that its Earn program would be unable to meet customer redemptions within the service-level agreement’s time frame of five days.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.