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.

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.

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Harold

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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.

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News

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.

We experienced an Amazon Web Services EBS outage with one of our primary databases. We have restored the database and are bringing the exchange back up.

— Gemini (@Gemini) November 16, 2022

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

Gemini exchange fully back online; all customer funds held on the Gemini exchange are held 1:1 and available for withdrawal at any time.

— Gemini (@Gemini) November 16, 2022

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.

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.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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