Gemini Releases A Genesis Debt Repayment Progress Transparency Page

Gemini, Genesis’ $900 million Creditor, has launched a transparent page to monitor Genesis and DCG on repayment progress for users participating in the Earn program.

Today, Cameron Winklevoss, president and CEO of crypto exchange Gemini, tweeted that the exchange has launched a “transparency page” to find solutions for all Earn Program users.

And it will act as an agent for Earn users to oversee Genesis Global Capital, DCG and its chief executive officer, Barry Silbert, have reached an agreement and will reveal the progress of repaying the money Genesis owes every Tuesday and Friday.

As was updated in an earlier Coincu News article, Genesis, a crypto lending company, owes Gemini $900 million and Gemini is trying to recover this amount.

Genesis is the principal partner of the Gemini Earn Program’s wealth management product, a service for retail investors to deposit money to earn fixed income.

The Winklevoss brothers’ company suspended its asset management product acquisition last month. According to the news yesterday, Winklevoss announced that Gemini has established a creditor committee and that returning money to customers is a priority for the company.

According to CoinDesk, the total amount of loans from customers who have received legal advice because their funds are locked in the encrypted lending platform Genesis has reached $1.8 billion, and this number may continue to grow.

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