Gemini Says Crypto Exchange Working To Find Solution for Users To Redeem Funds From Struggling Earn Product

Gemini Says Crypto Exchange Working To Find Solution for Users To Redeem Funds From Struggling Earn Product


The crypto exchange Gemini says it’s working to “find a solution” so its customers can redeem funds from its interest-earning program, Gemini Earn.

The program was impacted last week when its leading partner, blue-chip crypto lender Genesis, halted customer withdrawals due to liquidity issues stemming from the collapse of 3AC and FTX.

Says Gemini this week,

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“We continue to work with Genesis Global Capital, LLC (Genesis) — the lending partner of Earn — and its parent company Digital Currency Group, Inc. (DCG) to find a solution for Earn users to redeem their funds. This remains our highest priority and we understand Genesis and DCG remain committed to exploring every possible option to fulfill their obligations to Earn users.

We greatly appreciate Earn users’ patience

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