![]() They live for communication and the exchange of information, and they. Genesis had exposure to FTX of at least $175 million, coming via its derivatives trading business. Gemini to invest in more than a passing interest is a little more difficult. Genesis is now reportedly working with investment bank Moelis & Co about potential financing options according to the newspaper, and it was reported earlier this month that the lender attempted to raise $1 billion as part of attempts to avoid the “liquidity crunch” which forced it to stop withdrawals. All 26 assets on the exchange are supported by the program. ![]() Shutterstock image by Primakov Key Takeaways Gemini Earn will offer yield up to 7.4 APY. The move came directly after Genesis suspended redemptions for customers and new loans due to "abnormal withdrawal requests" following the FTX collapse on the same day. Gemini, a New York-based crypto asset exchange and lending platform, offered and sold Gemini interest accounts to investors via Gemini Earn, through which. 2, 2021 The New York-based exchange has inaugurated an interest-earning program called Gemini Earn. The exchange attributed the move to “unprecedented market turmoil”. Investors Sue Gemini Crypto Exchange, Winkelvoss Twins The lawsuit claims Gemini left out information regarding the risks of high-interest accounts. Gemini, which Cameron and Tyler Winklevoss founded in 2015, told users it would be pausing withdrawals from Gemini Earn on November 16, and has yet to provide any clarity as to when they are expected to be reopened. The Master Claim will also include a claim for interest, loan fees, and new tokens, if any, owed to Earn users as of January 19, 2023. The Gemini Earn service has experienced severe disruption since the FTX contagion began at the start of last month. ![]() $0.04258011 -5.06% Terra Classic (Wormhole)Īccording to the FT, Gemini is working as part of a creditors’ committee to regain the funds from Genesis and DCG. ![]()
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