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News

Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

May 29, 2024 - Around 2 mins mins to read

Key Points:

  • Gemini Earn users received $2.18 billion of their digital assets in kind following a major settlement.
  • Settlement with Genesis ensures all Earn users get 100% of their digital assets back.
  • Gemini contributed $50 million to support the recovery of Earn users’ assets.
Gemini has announced that its Earn users received $2.18 billion worth of their digital assets in kind today.
Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

This milestone follows a settlement in principle reached with Genesis and other creditors involved in the Genesis Bankruptcy, ensuring that all Earn users will recover 100% of their digital assets.

The agreement marks a pivotal moment for Gemini and its users, who have been anticipating the resolution of the Genesis Bankruptcy case. This settlement not only restores users’ confidence but also underscores Gemini’s commitment to safeguarding their investments. The recovery process has been closely watched, given the substantial amount of digital assets involved and the potential implications for the broader crypto market.

Full Asset Recovery Achieved Through Settlement

Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

Gemini has made a significant contribution of $50 million to bolster the recovery for Earn users. This gesture highlights the platform’s dedication to its user base and its proactive approach to resolving the challenges posed by the bankruptcy proceedings.

Tyler Winklevoss, CEO of Gemini, expressed his satisfaction with the settlement, stating, “This is a monumental day for our Earn users. We have worked tirelessly to ensure that they recover their digital assets, and today’s announcement is a testament to our commitment to them. The $50 million contribution from Gemini underscores our dedication to supporting our users through challenging times.”

The resolution of the Genesis Bankruptcy and the full recovery of digital assets for Earn users is expected to have positive ripple effects across the cryptocurrency industry. It demonstrates a successful collaboration between a major crypto platform and its creditors, setting a precedent for how similar cases might be handled in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Asset Return

Gemini

Gemini Asset Return

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

Key Points:

  • Gemini Earn users received $2.18 billion of their digital assets in kind following a major settlement.
  • Settlement with Genesis ensures all Earn users get 100% of their digital assets back.
  • Gemini contributed $50 million to support the recovery of Earn users’ assets.
Gemini has announced that its Earn users received $2.18 billion worth of their digital assets in kind today.
Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

This milestone follows a settlement in principle reached with Genesis and other creditors involved in the Genesis Bankruptcy, ensuring that all Earn users will recover 100% of their digital assets.

The agreement marks a pivotal moment for Gemini and its users, who have been anticipating the resolution of the Genesis Bankruptcy case. This settlement not only restores users’ confidence but also underscores Gemini’s commitment to safeguarding their investments. The recovery process has been closely watched, given the substantial amount of digital assets involved and the potential implications for the broader crypto market.

Full Asset Recovery Achieved Through Settlement

Gemini Announces $2.18 Billion Asset Return to Earn Users Following Genesis Settlement!

Gemini has made a significant contribution of $50 million to bolster the recovery for Earn users. This gesture highlights the platform’s dedication to its user base and its proactive approach to resolving the challenges posed by the bankruptcy proceedings.

Tyler Winklevoss, CEO of Gemini, expressed his satisfaction with the settlement, stating, “This is a monumental day for our Earn users. We have worked tirelessly to ensure that they recover their digital assets, and today’s announcement is a testament to our commitment to them. The $50 million contribution from Gemini underscores our dedication to supporting our users through challenging times.”

The resolution of the Genesis Bankruptcy and the full recovery of digital assets for Earn users is expected to have positive ripple effects across the cryptocurrency industry. It demonstrates a successful collaboration between a major crypto platform and its creditors, setting a precedent for how similar cases might be handled in the future.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.