Cryptocurrency lending operation Genesis and its parent company Digital Currency Group (DCG) say that over 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year.
Earn was offered to customers of the Gemini crypto exchange, but Genesis supplied the financial infrastructure that ran the program. That turned into a problem for Gemini customers when Genesis was forced to halt withdrawals and then filed for bankruptcy protection.
A filing on Wednesday states that if assorted Genesis creditor groups vote to approve a proposed deal, then “Gemini Earn users are estimated to recover approximately
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